Standard & Poor's president to leave firm: report

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Standard & Poor's president to leave firm: report
SYDNEY (MarketWatch) -- Deven Sharma, president of ratings agency Standard & Poor's will step down from the company, the Financial Times newspaper reported, citing people familiar with the matter. Sharma will be replaced by Douglas Peterson, chief operating officer of Citigroup unit Citibank, according to the report. Any departure from the firm for Sharma would take place just weeks after the ratings agency downgraded its rating on U.S. government debt. Standard & Poor's is a unit of McGraw-Hill Cos. .