Sallie Mae Names New CEO

March 02, 2005, 1:00 a.m. EST 1 Min Read

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RESTON, Va. - (03/02/05) -- Student loan giant Sallie Mae saidyesterday its CEO Albert Lord will step aside in May to besucceeded by the company's current president and chief operatingofficer Thomas Fitzpatrick. Lord has been CEO since 1997, guidingthe company through it privatization and the development into thenation's largest student loan originator, as well as secondarymarket facilitator. Lord will become chairman of the board,succeeding Edward Fox, the company's founding CEO, who will retirein May. Fitzpatrick has been the company's president and COO since1998.

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