Annaly Co-Founder Wellington J. Denahan to Retire from the Board after More than 25 Years
22 Febrero 2023 - 3:15PM
Business Wire
Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly” or the
“Company”) announced today that Wellington J. Denahan, Annaly’s
co-founder, will retire from her positions as Vice Chair of the
Company’s Board of Directors (the “Board”), Chair of the Risk
Committee of the Board, Member of the Corporate Responsibility
Committee of the Board and a Director of the Company, effective
upon the conclusion of her current term, which will occur at the
end of the Company’s 2023 Annual Meeting of Stockholders.
Since Annaly’s founding, Ms. Denahan has helped lead the Company
through a series of market-leading actions that have grown Annaly
from a pure play agency mortgage REIT into a diversified housing
finance leader. During her tenure, the Company has provided an
attractive yield to shareholders throughout market cycles,
delivering total shareholder return of more than 700% since
Annaly’s initial public offering in 1997. Ms. Denahan championed a
culture of entrepreneurship, innovation and forward-thinking that
continues to permeate every aspect of Annaly’s business.
Ms. Denahan remarked: “I’m extremely proud to have built a
company that allows individual shareholders to invest across the
mortgage finance spectrum alongside institutional shareholders. I
look forward to watching the continued evolution and success of the
Company for years to come.”
“Wellington’s visionary leadership in founding Annaly over 25
years ago blazed the trail for many of today’s mortgage REITs,”
said Michael Haylon, Independent Chair of Annaly’s Board. “Her
contributions to the Company, to the Board and to our shareholders
are immeasurable.”
David Finkelstein, Annaly’s Chief Executive Officer and Chief
Investment Officer, commented: “Since 1997, Annaly has become the
largest mortgage REIT in the world and delivered $24 billion in
dividends to our shareholders in a variety of interest rate and
economic conditions. None of Annaly’s achievements would have been
possible without Wellington’s foresight and entrepreneurial
spirit.”
Ms. Denahan co-founded Annaly in 1996 and has served as a
Director since that time. Until December 2017, Ms. Denahan served
as Chairman of the Board of Annaly (from November 2012) and
Executive Chairman of Annaly (from September 2015). Previously, Ms.
Denahan served as Chief Executive Officer of Annaly from November
2012 to September 2015 and as Co-Chief Executive Officer of Annaly
from October 2012 to November 2012. Ms. Denahan was Annaly’s Chief
Operating Officer from January 2006 to October 2012 and Chief
Investment Officer from 2000 to 2012. Ms. Denahan has a B.S. in
Finance from Florida State University.
About Annaly
Annaly is a leading diversified capital manager with investment
strategies across mortgage finance. Annaly’s principal business
objective is to generate net income for distribution to its
stockholders and to optimize its returns through prudent management
of its diversified investment strategies. Annaly is internally
managed and has elected to be taxed as a real estate investment
trust, or REIT, for federal income tax purposes. 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,” “should,” “estimate,”
“project,” “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 residential credit business; our ability to grow our mortgage
servicing rights business; credit risks related to our investments
in credit risk transfer securities and residential mortgage-backed
securities and related residential mortgage credit assets; risks
related to investments in mortgage servicing rights; the our
ability to consummate any contemplated investment opportunities;
changes in government regulations or policy affecting our business;
our ability to maintain our qualification as a REIT for U.S.
federal income tax purposes; our ability to maintain our exemption
from registration under the Investment Company Act of 1940;
operational risks or risk management failures by us or critical
third parties, including cybersecurity incidents; and risks and
uncertainties related to the COVID-19 pandemic, including as
related to adverse economic conditions on real estate-related
assets and financing conditions. 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. The Company does not undertake, and
specifically disclaims 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 Relations 1-888-8Annaly
investor@annaly.com
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