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Fremont CEO, president resign

September 04, 2008|From Times Wire Services

Troubled subprime lender Fremont General Corp., which sold most of its assets to CapitalSource Inc., said its chief executive and president were resigning.

CEO Stephen Gordon and President David DePillo are stepping down effective Sept. 30, Fremont said. Both will remain on the board through a transition period, said the Brea company, which filed for bankruptcy protection in June.

Fremont said Richard A. Sanchez, 51, the company's chief administrative officer, was appointed interim CEO.

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