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Shakeup Standard & Poor’s President Resigns Lawrence Jackson / AP Photo

Standard & Poor’s President Resigns

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.

August 22, 2011 11:20 PM