S&P President Sharma to Be Replaced by Citi’s Peterson, FT Says
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The board of McGraw-Hill Cos. decided today to replace Deven Sharma, the president of its Standard & Poor’s unit, with Douglas Peterson of Citigroup Inc., the Financial Times reported, citing unidentified people familiar with the mater.
Sharma’s departure isn’t related to S&P’s downgrade of the U.S. or to reports that the ratings agency is under a Justice Department probe, the newspaper said, citing the people. Sharma will serve as an adviser until the end of the year, the FT said.