(Updated on 7/01/2009)
Charles E. “Ed” Haldeman Jr. stepped down June 30 as chairman of Putnam Investment Management and president of the Putnam Funds, according to a statement from Putnam.
Robert L. Reynolds, president and CEO of Putnam Investments and a trustee of the Putnam Funds, will replace Mr. Haldeman as president of the Putnam Funds, the firm announced in the statement. The chairman position at Putnam Investment Management will not be filled.
“When we agreed to sell Putnam to Power Financial Corp. in January 2007, I committed to stay at Putnam until June 30, 2008,” Mr. Haldeman said in the statement. “My agreement was extended, and it is now almost 2½ years since the sale of Putnam was announced. Power Financial has been a great owner and continues to invest in the business. Bob Reynolds is doing a great job as CEO. This is a good time for me to advance to the next stage of my career.”
“Ed Haldeman joined Putnam Investments during some very challenging times, and his steady leadership helped to keep the company on course,” Mr. Reynolds said in the release. “As he retires, I'd like to thank him on behalf of the entire Putnam organization for his years of dedicated service to the company. We wish him the very best for the future.”
Mr. Haldeman was named chairman of Putnam Investment Management, investment adviser for the Putnam Funds, in July 2008. Prior to that, he was president and CEO of Putnam Investments, a position he assumed in November 2003. He was named president of the Putnam Funds in 2007.
Separately, Mr. Haldeman couldn't be reached to confirm reports that he is the leading candidate to become the next CEO of Freddie Mac. A Freddie Mac spokeswoman declined to comment, beyond noting that “the recruitment process is still under way” to allow John A. Koskinen, interim CEO, to return to his previous role as non-executive chairman. She said Freddie Mac is hoping to choose a new CEO before the end of July.