RESTON, Va., Nov. 28, 2007—SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, announced today that Albert L. Lord has been appointed Executive Chairman.
In this role, Mr. Lord assumes principal executive management responsibility and will continue to serve as Chairman of the Board. C.E. Andrews will continue to serve as Chief Executive Officer and report to Mr. Lord.
Mr. Lord has served as Chairman of the Board of Sallie Mae since March 2005. Prior to that appointment, Mr. Lord served as the company’s Vice Chairman and Chief Executive Officer, beginning in 1997. He held various executive officer positions with Sallie Mae’s predecessor, the Student Loan Marketing Association, from 1981 to 1994.
“I look forward to taking a more active role in working with C.E. and Sallie Mae’s experienced management team,” said Mr. Lord. “The company has entered another exciting and challenging period in its 35-year history. Our Board and management will work together to continue to grow our business.”
For more information, contact:
Tom Joyce (703) 984-5610 (media)
Steve McGarry (703) 984-6746 (investors)
SLM Corporation (NYSE:
SLM), commonly known as Sallie Mae, is the nation’s leading provider of saving, planning and paying for education programs. Through its subsidiaries, the company manages $185 billion in education loans and serves 10 million student and parent customers. Through its Upromise affiliates, the company also manages more than $17 billion in 529 college-savings plans, and is a major, private source of college funding contributions in America with 10 million members and more than $475 million in member rewards. Sallie Mae and its subsidiaries offer debt management services as well as business and technical products to a range of business clients, including higher education institutions, student loan guarantors and state and federal agencies. More information is available at
www.salliemae.com. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.