Kevin P. Brady & E. Wayne Nordberg Conclude their Service as Members of the Board of Annaly Capital Management, Inc. in Line ...
May 22 2019 - 4:15PM
Business Wire
Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly” or
the “Company”) announced today that directors Kevin P. Brady and E.
Wayne Nordberg stepped down from the Company’s Board of Directors
(the “Board”) upon the scheduled expiration of their terms at the
Company’s Annual Meeting of Stockholders held on May 22, 2019 (the
“Annual Meeting”). Mr. Brady joined the Board prior to the
Company’s initial public offering in 1997 and Mr. Nordberg joined
the Board in 2004. Prior to the Annual Meeting, Mr. Brady had
served as Chair of Annaly’s Audit Committee and as a member of the
Nominating/Corporate Governance (“NCG”) Committee and Risk
Committee, and Mr. Nordberg had served as a member of the Audit
Committee, Compensation Committee and NCG Committee.
“Kevin Brady joined Annaly’s Board prior to the Company’s
initial public offering and has played a critical role in Annaly’s
growth and success since that time. We are immensely grateful for
Kevin’s guidance and support, including his exceptional leadership
as Chair of the Company’s Audit Committee,” said Kevin Keyes,
Annaly’s Chairman, Chief Executive Officer and President. “We are
equally indebted to Wayne Nordberg, whose expertise in multiple
asset classes and specifically in mortgage-related markets and
products has helped transform Annaly into the industry leader we
are today. On behalf of the entire Board, I want to publicly thank
Kevin and Wayne for their many years of dedicated service to the
Company and wish them the best in their future endeavors.”
Messrs. Brady and Nordberg stepped down as directors in line
with the Company’s recently-adopted Board refreshment policy, which
provides that independent directors may not stand for re-election
to the Board following the earlier of their 12th anniversary of
Board service or their 73rd birthday. Following the Annual Meeting,
Annaly’s Board is comprised of 11 directors, 82% of whom are
independent and 45% of whom are women. Independent director Kathy
Hopinkah Hannan has been appointed as Chair of Annaly’s Audit
Committee following Mr. Brady’s departure. Annaly’s Audit and Risk
Committees will further benefit from the experience of Thomas
Hamilton, another recently appointed independent director who was
re-elected by stockholders at the Annual Meeting. The Directors who
have joined the Board over the past few years align with the
Company’s continued strategic evolution and ensure Annaly maintains
a diverse, highly experienced and engaged Board.
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 and to preserve capital through 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. Additional information on the
company can be found at www.annaly.com.
Forward-Looking Statements
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 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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