Annaly Capital Separates Roles Of Chairman And CEO; CEO Kevin Keyes Departs

(RTTNews) - Annaly Capital Management Inc. (NLY) said Thursday that it has separated the roles of Chairman and chief Executive Officer, as part of its ongoing efforts to strengthen its corporate governance.

Therefore, the company's chairman, Chief Executive Officer and President Kevin Keyes will depart from the company, effective today. Keyes is also retiring from the company's external manager, Annaly Management Company LLC and its affiliates; he will be available for consultation to ensure a smooth transition, the company said in a statement.

Meanwhile, the company has appointed Glenn Votek as Chief Executive Officer and President on an interim basis. Votek has been elected to the Board and will also continue to serve as Chief Financial Officer. Votek, who joined Annaly in 2013, has more than 30 years of experience in financial services. Prior to his role as CFO at Annaly, he served as Executive Vice President and Treasurer at CIT Group since 1999 and also President of Consumer Finance since 2012.

The company noted that it has commenced a search for a permanent Chief Executive Officer, including both internal and external candidates.

In addition, the company said it has appointed its Independent Director Thomas Hamilton as chairman of the Board.

Hamilton, former Global Head of Securitized Product Trading and Banking and Head of Municipal Trading and Banking at Barclays Capital, has spent 24 years in leadership positions in the financial industry and has significant experience and expertise across fixed income markets.

Jonathan Green, formerly Lead Independent Director, and Wellington Denahan, co-founder of Annaly, who have both served on the Board since Annaly's inception in 1996, have been appointed Vice Chairs of the Board.