NEW YORK–(BUSINESS WIRE)–Annaly Capital Management, Inc. (NYSE: NLY) 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.
