The Federal Agricultural Mortgage Corp. has given its president and chief executive, Timothy Buzby, a two-year extension on his employment contract.
The government-sponsored enterprise said in a recent regulatory filing that its board recently approved the new contract. Under the new agreement, which is effective until April 7, 2016, Buzby’s base salary will remain the same, at $643,750.
After the new contract expires, Buzby will be eligible for successive one-year agreements, Farmer Mac said in the filing.
Buzby took over as president and chief executive in October 2012. He previously served as Farmer Mac’s chief financial officer and controller, after joining the GSE in 2000.