Fannie Mae has named two senior executives to head the company's public outreach and affordable housing unit, the Fannie Mae Foundation.

John K. McIlwain will serve as president and chief executive officer, while Ann Marie Wheelock will be executive vice president and chief operating officer. The appointments take effect June 26, the date of the foundation's next board meeting.

Mr. McIlwain has been managing director of Fannie Mae's American Communities Fund, a backer of low-income housing efforts. Ms. Wheelock has been vice president and assistant to Fannie Mae chairman James A. Johnson.

Fannie Mae began looking for new management for the unit earlier this year, when the foundation's top executive, Wendy R. Sherman, announced plans to resign. She remains on the job until June 26.

The company has not decided who will fill the spots they now hold, a spokeswoman said.

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