NEW YORK--(BUSINESS WIRE)--
Annaly Capital Management, Inc. (NYSE: NLY)
(“Annaly” or the “Company”) today announced that its Chairman, President
and Chief Executive Officer, Michael A.J. Farrell, was diagnosed with
cancer and is undergoing chemotherapy.
“The good news is that it was caught early and is treatable,” said Mr.
Farrell, “and I will continue to work my normal schedule with my
seasoned management team. The Company will continue to adhere to our
corporate values of transparency and prudent risk management and I,
along with Annaly’s co-founder and Vice Chairman, Wellington
Denahan-Norris, will maintain our ongoing commitment to ensure
management continuity as a part of our normal course of business.”
Mr. Farrell continued: “My long-term prognosis is good. I will have a
better sense over the next several months as I continue to undergo
treatment and my doctors refine their diagnosis. In the meantime, I feel
well and I want to thank my family, friends and colleagues for their
support during this period of my life.”
Annaly manages assets on behalf of institutional and individual
investors worldwide. The Company’s principal business objective is to
generate net income for distribution to investors from its investment
securities and from dividends it receives from its subsidiaries. Annaly
is a Maryland corporation that has elected to be taxed as a real estate
investment trust (“REIT”).
This news release and our public documents to which we refer contain or
incorporate by reference certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements which are based on various assumptions (some
of which are beyond our control) 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 for purchase; the availability of financing and, if
available, the terms of any financings; changes in the market value of
our assets; changes in business conditions and the general economy; our
ability to consummate any contemplated investment opportunities; risks
associated with the businesses of our subsidiaries, including the
investment advisory business of our wholly-owned subsidiaries,
including: the removal by clients of assets managed, their regulatory
requirements, and competition in the investment advisory business; risks
associated with the broker-dealer business of our wholly-owned
subsidiary; changes in government regulations affecting our business;
our ability to maintain our qualification as a REIT for 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.
Annaly Capital Management, Inc.
Investor Relations, 888-8Annaly
www.annaly.com
Source: Annaly Capital Management, Inc.