Update: The 75 Most Powerful Blacks In Corporate America - Page 2 of 2

Update: The 75 Most Powerful Blacks In Corporate America

last year. The company is being forced by the government to restate earnings for the last few years, which may erase $9 billion of the company’s reported profits.

After only two months of creating strategies for Office Max Inc. as CFO and executive officer of finance, Brian Anderson resigned in January. His departure coincides with the company’s acknowledgment that employees falsified documents related to $3.3 million in billings and that OfficeMax overstated profits in the first quarter of 2004 by up to $10 million.

Louis W. Hoyes, 56, who oversaw Fannie Mae’s $4.8 billion single-family mortgage business, retired in January. Hoyes joined the company in 1995 and previously served as senior vice president for multifamily lending and investment.

Pierre E. Leroy, 56, retired from Deere & Co. as president, Worldwide Construction & Forestry Division. Leroy decided to leave after 29 years at the company, 20 of which he spent as an officer. He continues to serve on the board of directors for Fortune Brands.