NEW YORK–(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.
Contacts
Annaly Capital Management, Inc.
Investor Relations
1-888-8Annaly
www.annaly.com
