Wellington Denahan Will Remain a Director
NEW YORK--(BUSINESS WIRE)--
Annaly Capital Management, Inc. (NYSE:NLY) (“Annaly” or the “Company”)
announced today that Kevin G. Keyes, the Company’s Chief Executive
Officer and President and a member of the Board of Directors of the
Company (the “Board”), has been appointed as Chairman of the Board,
effective January 1, 2018. Wellington J. Denahan, Annaly’s co-founder,
Executive Chairman and Chairman of the Board, will retire as Executive
Chairman and Chairman of the Board, effective December 31, 2017, but
will continue to serve as a member of the Board.
Ms. Denahan remarked: “I’m very proud to have co-founded a company that
has exhibited significant growth, outperformance over the long term and
has evolved to become an industry leader. I am extremely excited about
Annaly’s future and the strategy that Kevin has set forth. I look
forward to continuing to support Kevin and the Company through my
service as a member of the Board.”
“The Board is pleased to appoint Kevin as its Chairman,” said Jonathan
D. Green, Annaly’s Lead Independent Director. “Kevin is a dynamic leader
who has shepherded the Company through unprecedented market volatility
while at the same time spearheaded our evolution from a mono-line Agency
REIT to a leading diversified capital manager.”
Mr. Keyes commented: “Wellington’s vision and leadership have helped the
Company grow from its $102 million initial public offering in 1997 to an
industry leader with a $14 billion market capitalization today. It is my
great privilege to serve as Annaly’s CEO and work alongside Wellington
and the rest of the Board. I’m honored that the Board has appointed me
as its Chairman and I am committed and excited to continue to lead this
great company through the next phases of growth and evolution. I am
extremely confident that Annaly is uniquely positioned for the
tremendous opportunities that lie ahead.”
About Annaly
Annaly is a leading diversified capital manager that invests in and
finances residential and commercial assets. Annaly’s principal business
objective is to generate net income for distribution to its stockholders
through capital preservation, prudent selection of investments, and
continuous management of its portfolio. Annaly has elected to be taxed
as a real estate investment trust, or REIT, for federal income tax
purposes. Annaly is externally managed by Annaly Management Company LLC.
Forward-Looking Statements
This news release, other written or oral communications, 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 financing; changes in the
market value of our assets; changes in business conditions and the
general economy; our ability to grow our commercial real estate
business; our ability to grow our residential mortgage credit business;
our ability to grow our middle market lending business; credit risks
related to our investments in credit risk transfer securities,
residential mortgage-backed securities and related residential mortgage
credit assets, commercial real estate assets and corporate debt; risks
related to investments in mortgage servicing rights; our ability to
consummate any contemplated investment opportunities; changes in
government regulations and policy affecting our business; our ability to
maintain our qualification as a REIT for U.S. federal income tax
purposes; and our ability to maintain our exemption from registration
under the Investment Company Act of 1940, as amended. 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, except as required by
law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171011006276/en/
Annaly Capital Management, Inc.
Investor Relations
1-888-8Annaly
www.annaly.com
Source: Annaly Capital Management, Inc.