Farmer Mac sets July 1 as CEO transition date

The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A) announced that its Board of Directors has approved July 1, 2026, as the effective date for Zachary N. Carpenter to assume the role of CEO, succeeding Bradford T. Nordholm.

Carpenter, currently President and Chief Operating Officer, was named as Nordholm's successor in September 2025 as part of a planned leadership transition. Nordholm will transition to serve as senior advisor to the CEO with the honorary title of CEO Emeritus through September 30, 2026.

Nordholm was appointed as Farmer Mac's President and CEO in October 2018. During his tenure, the company doubled its annual earnings and grew outstanding business volume to more than $34 billion, according to the press release.

Carpenter joined Farmer Mac in May 2019 after previous roles at CoBank, Goldman Sachs, and Johnson & Johnson. Since joining the company, he has led strategy, business development, and portfolio diversification efforts, including expansion into renewable energy, broadband infrastructure, and corporate agricultural finance.

"The Board has been very pleased with the thoughtful, cooperative, and seamless handoff between Brad and Zack over the past several months," said Lowell L. Junkins, Board Chair, in a statement.

Farmer Mac operates as a secondary market provider that increases accessibility of financing for American agriculture and rural infrastructure. The company offers solutions across agriculture, agribusiness, broadband infrastructure, power and utilities, and renewable energy markets.

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