Susan Wyderko, hired by the Mutual Fund Directors Forum to be Allan Mostoff's eventual successor, will begin her tour of duty near summer's end.

Mostoff, Forum president, said Wyderko's background was a perfect fit with the job specs the Forum was looking for. "She's familiar with the industry, regulatory pattern, workings of the Securities and Exchange Commission, concerns of investors, legislative process and able to speak and represent the Forum in a way the members want to be heard," he said.

Wyderko most recently served as interim director of the Division of Investment Management. Many had speculated that Wyderko would become the permanent director of the division (FD, March) but Andrew "Buddy" Donohue, general counsel at Merrill Lynch Investment Managers, was named to the post in April to succeed Paul Roye. She has been the director of the Office of Investor Education and Assistance since 2000.

Mostoff wouldn't specify on the time-frame of his departure but said he doesn't think it will be within the next year. "I'm committed to staying as long as Susan and the board want me," Mostoff said.

Martha Peterson, formerly a counselor to SEC Chairman William Donaldson, who joined the Forum a year ago as executive v.p., has resigned for personal reasons and stepped out of the workforce completely. "She made an extraordinary contribution," Mostoff said.