Wellington Denahan Will Remain as Chairman of the Board and Also
Serve as Executive Chairman
NEW YORK--(BUSINESS WIRE)--
Annaly Capital Management, Inc. (NYSE: NLY)
(Annaly or the Company) announced today that its Board of Directors has
appointed Kevin Keyes as its Chief Executive Officer. Mr. Keyes will
also retain the title of President. Wellington Denahan, Annaly’s
co-founder, Chairman and Chief Executive Officer, will remain Chairman
of the Board of Directors and will also serve as Executive Chairman of
the Company focusing on strategic and capital allocation decisions.
Ms. Denahan remarked: “I’m very proud to have co-founded a company that
has grown to become the largest mortgage REIT in the world while
delivering competitive returns through a wide range of market
conditions. I look forward to continuing to work with Kevin and the team
as we navigate the opportunities ahead. Kevin began working with Annaly
more than a decade ago and we were very fortunate to have him join the
Company a few years later. He has been hugely instrumental in helping
shape the Company for the future and has the leadership ability and
broad experience to drive Annaly’s success in the years ahead.”
“The Board of Directors is pleased to name Kevin as Annaly’s CEO,” said
Jonathan Green, Annaly’s Lead Director. “Kevin is a proven leader who
will enable us to take advantage of the Company’s numerous growth
opportunities in the evolving market landscape. We also look forward to
Wellington’s continuing contributions to the Board and the Company as
Executive Chairman.”
Kevin Keyes commented: “Nearly 20 years ago, Wellington and Mike Farrell
had the vision and leadership to create this phenomenal Company. I’ve
been very fortunate to both advise and work closely with each of them
and have admired Wellington’s leadership during the challenging and
rewarding times over the past few years. I know the opportunity that
lies ahead for Annaly is enormous and I am honored and energized to lead
along with Wellington going forward. We have further developed and
expanded the Annaly investment teams over the past few years and are now
more prepared than ever to capitalize on our targeted options for growth
in the industry today.”
About Annaly
Annaly’s principal business objective is to generate net income for
distribution to its shareholders from its investments. Annaly is a
Maryland corporation that has elected to be taxed as a real estate
investment trust (“REIT”). Annaly is managed and advised by Annaly
Management Company LLC.
Other Information
This news release and our public documents to which we refer contain or
incorporate by reference certain forward-looking statements which are
based on various assumptions (some of which are beyond our control) and
may be identified by reference to a future period or periods or by the
use of forward-looking terminology, such as “may,” “will,” “believe,”
“expect,” “anticipate,” “continue,” or similar terms or variations on
those terms or the negative of those terms. Actual results could differ
materially from those set forth in forward-looking statements due to a
variety of factors, including, but not limited to, changes in interest
rates; changes in the yield curve; changes in prepayment rates; the
availability of mortgage-backed securities and other securities for
purchase; the availability of financing and, if available, the terms of
any financings; changes in the market value of our assets; changes in
business conditions and the general economy; our ability to grow the
commercial mortgage business; credit risks related to our investments in
commercial real estate assets and corporate debt; our ability to
consummate any contemplated investment opportunities; changes in
government regulations affecting our business; our ability to maintain
our qualification as a REIT for federal income tax purposes; our ability
to maintain our exemption from registration under the Investment Company
Act of 1940, as amended; risks associated with the businesses of our
subsidiaries, including the investment advisory business of a
wholly-owned subsidiary and the broker-dealer business of a wholly-owned
subsidiary. For a discussion of the risks and uncertainties which could
cause actual results to differ from those contained in the
forward-looking statements, see “Risk Factors” in our most recent Annual
Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q.
We do not undertake, and specifically disclaim any obligation, to
publicly release the result of any revisions which may be made to any
forward-looking statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date of such statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150720006007/en/
Annaly Capital Management, Inc.
Investor Relations, 888-8Annaly
www.annaly.com
Source: Annaly Capital Management, Inc.