Ambac Expands Role of CEO as Hedge Fund Steps Up Criticism

  • Tavakoli will serve as president and CEO of Ambac Assurance
  • Ambac insures $10 billion of Puerto Rico debt payments

Ambac Financial Group Inc. said President and Chief Executive Officer Nader Tavakoli will also head a subsidiary unit of the bond insurer as shareholder Canyon Capital Advisors increased criticism of his compensation and the company’s performance.

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