Standard & Poor's President Resigns

The Wall Street Journal reports:

Standard & Poor's President Deven Sharma is leaving the credit-rating firm at the end of the year, the company said Monday night.

Mr. Sharma will step down as president on Sept. 12 and be succeeded by Douglas Peterson, chief operating officer of Citigroup Inc.'s Citibank unit. Mr. Sharma will remain at S&P through the end of the year in an advisory capacity, working with McGraw-Hill Cos. Chairman, President and Chief Executive Harold "Terry" McGraw III as the company explores a separation of its education business.

So a government owned Citigroup person is coming to S&P.