Former Sallie Mae chief seeks Penn State seat, attacks ‘sinister fiction’

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Heinz Warneke; photo by Nathaniel C. Sheetz / Foter.com / CC BY-SA

The man who helped bring student lender Sallie Mae’s headquarters  to Delaware wants a spot on the Penn State University Board of Trustees.

Al Lord, who retired as CEO of Sallie Mae as it moved to divide itself up into two companies,  is taking his case to alumni

The Philadelphia Inquirer is reporting that Lord is collecting signatures in an effort to get a seat on the board.

Lord, according to the Inquirer,   is unhappy with changes at Penn State followed the child sex abuse scandal that toppled everyone from the president to the late football coach Joe Paterno.  He is especially upset with the report from former FBI chief Louis Freeh on the scandal.

Interestingly enough, it was Lord who turned to talent from  credit card giant MBNA in helping Sallie Mae ride out a major challenges that included the financial crisis and legislation that led to the federal government taking back loan servicing done by Sallie Mae.

Freeh, the target of Lord’s scorn,  was also  top executive at MBNA when the bank went on a hiring spree that tapped many law enforcement officials.  Freeh  went on to set up his own consulting practice, which later merged with a Philadelphia law firm.

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via CEO seeks Penn State seat, attacks ‘sinister fiction’.

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