Sallie Mae / SLM
Arnold Hernandez, national spokesman for The Sallie Mae Fund's Paying for College Tour, meets with students around the country to talk about the opportunity to go to college. (Photo: Courtesy of company.)
About Sallie Mae
12061 Bluemont Way, Reston, Va. 20190
www.salliemae.com
| 703-810-3000
| Founded: 1972
Industry: Financial Services | Category: Public Companies
The nation's largest student loan company, Sallie Mae originally operated under a federal charter, and many of its loans are still guaranteed and subsidized by the government. In April 2007, the company announced that it would be taken private in a leveraged buyout. But the government cut student-loan subsidies, a credit crunch made buyouts harder to finance, and the deal collapsed. Weakened, Sallie Mae said it would reduce operating expenses by 20 percent and began by cutting jobs.
Vice chairman and CEO: Albert L. Lord
Vice chairman and CFO: John F. Remondi
2007 Financial Data
Revenues: $9,171,131,000 | Net Income: $-896,394,000Asssets: $155,564,991,000 | Earnings Per Share: $-2.26
Stockholder Equity: $5,223,535,000 | Annual Dividend: $0.25
Total employees: 10,797 | Local employees: 688
Company Leadership
| Thomas J. Fitzpatrick | Former Chief Executive Officer |
| William M. Diefenderfer III | Director |
| Diane Suitt Gilleland | Director |
| Earl A. Goode | Director |
| Ronald F. Hunt | Director |
| Albert L. Lord | Vice Chairman and Chief Executive Officer |
| Michael E. Martin | Director |
| Barry Munitz | Director |
| Howard H. Newman | Director |
| A. Alexander Porter | Director |
| Frank C. Puleo | Director |
| Wolfgang Schoellkopf | Lead Independent Director |
| Steven L. Shapiro | Director |
| Anthony P. Terracciano | Chairman |
| Barry L. Williams | Director |
| Charles Elliott Andrews | President |
| Anne Torre Bates | Director |
| Thomas J. Fitzpatrick | Former Chief Executive Officer |
| June M. McCormack | Former Executive Vice President |
Source: Compensation data provided by Equilar, Inc..
| Thomas J. Fitzpatrick Former Chief Executive Officer | $8,095,761 Salary: $320,192 |
| June M. McCormack Former Executive Vice President | $5,232,326 Salary: $424,038 |
Did You Know
BIG CLASSES: Sallie Mae owns or manages student loans for nearly 10 million customers and administers $18 billion in college savings accounts for 1 million customers through its Upromise subsidiary.
