Annaly Capital Management, Inc. Appoints CEO and President Kevin Keyes as Chairman Effective January 1, 2018
October 11 2017 - 4:29PM
Business Wire
Wellington Denahan Will Remain a
Director
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.
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Annaly Capital Management, Inc.Investor
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