1. Shakeup

    Standard & Poor’s President Resigns

    Standard and Poors President Deven Sharma testifies on Capitol Hill in Washington, Wednesday, Oct. 22, 2008, before the House Oversight and Government Reform Committee. (AP Photo/Lawrence Jackson)

    Lawrence Jackson / AP Photo

    Standard & Poor’s President Deven Sharma is resigning his position and will leave the agency at the end of the year. Sharma will be replaced by Douglas Peterson, the chief operating officer of Citibank. Although S&P famously downgraded the credit rating on U.S. debt on Aug. 5, the change had been planned since well before then.

    Read it at The Wall Street Journal