Countrywide Reshuffles Top Management

Countrywide Credit Industries Inc., the largest publicly traded home mortgage lender, said Chief Executive Angelo Mozilo will assume the additional role of chairman, replacing David Loeb. Loeb remains president. Mozilo and Loeb founded Countrywide in 1969. Calabasas-based Countrywide said Stanford Kurland will become chief executive of the company’s main subsidiary, Countrywide Home Loans, a post Mozilo had held. Kurland will continue as president of the subsidiary, but will relinquish the title of chief operating officer. Mozilo remains chairman of the unit. The chief operating officer position at the subsidiary will be assumed by Carlos Garcia, who will retain his role as managing director of finance of both the subsidiary and the parent company. He is also chief financial officer and chief accounting officer at the parent company. The changes will become effective March 1. Countrywide shares rose 13 cents to close at $45.56 on the NYSE.