Fannie Mae President and CEO Priscilla Almodovar stepped down after nearly three years leading the government-sponsored enterprise (GSE). The company announced her departure along with two other changes to senior leadership in an Oct. 22 news release.

Fannie Mae Chief Operating Officer (COO) Peter Akwaboah will serve as acting CEO, and the company promoted John Roscoe and Brandon Hamara to serve as co-presidents.

Federal Housing Finance Agency Director Bill Pulte, who also serves as chairman of Fannie Mae, commented on the three promotions, as well as Almodovar’s tenure at the company.

“With the addition of Peter as acting CEO and John Roscoe and Brandon Hamara as co-presidents, we now have a deep bench of three experienced leaders at the very top of Fannie Mae,” Pulte said. “This means a safer, sounder Fannie Mae, all while growing our great Fortune 25 company.”

“We appreciate Priscilla Almodovar for her years of service to Fannie Mae, and we wish her great success in her next endeavor,” Pulte added.

Roscoe has served as Fannie Mae’s operations and public relations. Hamara left Freddie Mac’s board of directors to join Fannie Mae’s board on Oct. 7.

Akwaboah has more than 30 years of financial services leadership experience in operations, technology and innovation at Morgan Stanley, Royal Bank of Scotland, Deutsche Bank, KPMG and IBM. He will continue to oversee Fannie Mae’s COO division and partner with Fannie Mae executives Hamara and Roscoe.