NEW YORK--(BUSINESS WIRE)--Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly” or the “Company”) announced today that director Jonathan D. Green stepped down from the Company’s Board of Directors (the “Board”) upon the scheduled expiration of his term at the Company’s Annual Meeting of Stockholders held on May 20, 2020 (the “Annual Meeting”). Mr. Green joined the Board prior to the Company’s initial public offering in 1997. Prior to the Annual Meeting, Mr. Green had served as a Vice Chair of Annaly’s Board alongside Annaly’s Co-Founder Wellington Denahan, and as Chair of the Corporate Responsibility Committee and a member of the Compensation Committee and Risk Committee. Prior to the Company’s separation of the roles of Chair of the Board and Chief Executive Officer and the Board’s appointment of an Independent Chair, Mr. Green had served as the Company’s Lead Independent Director from 2015 until November 2019.
Following the Annual Meeting, Annaly’s Board is comprised of 11 directors, 45% of whom are women. Additionally, 55% of directors have a tenure of less than 5 years with an average director tenure of 7.1 years. Following the Annual Meeting, Ms. Denahan assumed the role of Chair of Annaly’s Risk Committee and independent director Katie Beirne Fallon replaced Mr. Green as Chair of Annaly’s Corporate Responsibility Committee, bringing the proportion of Board Committees chaired by women to 80%.
“Jonathan Green has been an incredibly valued member of Annaly’s Board of Directors since before we became a public company, providing sage guidance over the last 22 years,” said Wellington Denahan, Annaly’s Co-Founder and Vice Chair of the Board. “On behalf of the entire Board and Management, I would like to express our gratitude for Jon’s leadership and immeasurable contributions to Annaly over the years. We wish him continued success in his future endeavors.”
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 optimize its returns through prudent management of its diversified investment strategies. Annaly has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Until the closing of its announced internalization transaction, Annaly is externally managed by Annaly Management Company LLC. Additional information on the company can be found at www.annaly.com.
This news release contains certain forward-looking statements, which reflect management’s expectations regarding future events and speak only as of the date hereof. These forward-looking statements involve a number of risks and uncertainties including, but not limited to, the risks that are set forth under “Risk Factors” in the Company’s 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.