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The directorship of the ""Federal Agricultural Mortgage Corporation (Farmer Mac)"":www.farmermac.com/ has appointed a new leader for the company. Naming Timothy L. Buzby as as president and CEO, Farmer Mac's board announced that the industry veteran's term was effective immediately.
[IMAGE]Most recently, Buzby served as Farmer Mac's chief financial officer and treasurer, a role he assumed in 2009. Teaming up with the corporation in 2000, Buzby originally joined the company as Farmer Mac's controller.
In his position as Farmer Mac's president and CEO, Buzby's first order of business will be working with the board of directors to select a new chief financial officer.
[COLUMN_BREAK]Until a candidate is chosen for the role, Buzby will function in both capacities.
Lowell L. Junkins, chairman of Farmer Mac, noted of Buzby's appointment, ""Tim knows and understands all aspects of Farmer Mac. He has been pivotal to the successful strengthening of Farmer Mac financially and operationally. The Board has the highest confidence that Tim is the right executive to lead Farmer Mac as it moves forward with its Congressional mission to help provide enhanced liquidity and assure credit availability for rural America.""
Adding his commentary, Buzby stated, ""I am proud and excited to serve as the CEO of Farmer Mac. Farmer Mac is uniquely positioned to offer solutions to rural lenders that provide credit to farmers, ranchers, rural utilities, and other rural businesses. I look forward to working with the Board, the highly experienced members of our management team, and the entire Farmer Mac organization to further Farmer Mac's important mission and to help ensure the continued growth and prosperity of rural America while growing the value of Farmer Mac to all its constituencies.""
""The Board of Directors and I are grateful to Michael Gerber for his leadership of Farmer Mac and for the guidance and insight he provided as our CEO. He is a true professional who fully dedicated himself to the success of Farmer Mac and its mission during his tenure,"" concluded Junkins.
