Deven Sharma is leaving the Standard & Poor’s rating agency, Associated Press reports citing The Wall Street Journal and The Financial Times.
According to the newspapers, Standard & Poor’s will officially announce the resignation on Tuesday morning, August 23, before the American Stock Exchanges open. Reuters, in its turn, reports that Sharma will leave on September 12 and his successor will be Douglass Peterson, one of Citibank top managers.
The news about Deven Sharma’s resignation appeared two weeks after the credit-rating agency downgraded the rating of the U.S.A. from AAA to AA+. However, as business mass media highlight discussions of Sharma’s leaving began long time before the US rating decrease.
Deven Sharma came to Standard & Poor’s in 2006 from McGraw-Hill, the sister-company of the rating agency. He was designated as Standard & Poor’s President in 2007. It is announced that after the resignation Mr. Sharma will work as McGraw-Hill advisor till the end of 2011.
