Chimera Investment Corporation Announces Resignation of Independent Director

Rhea-AI Summary

Chimera Investment Corporation (NYSE: CIM) announced the resignation of Teresa Bryce Bazemore from its Board of Directors, effective February 28, 2021. This decision comes as she takes on new responsibilities as the President and CEO of the Federal Home Loan Bank of San Francisco. Chairman Gerry Creagh expressed gratitude for her contributions to the board. Chimera Investment Corporation is a publicly traded REIT focused on a diversified portfolio, including mortgage loans and real estate assets.

Positive

• Teresa Bryce Bazemore's departure opens opportunities for fresh perspectives on the Board.
• Potential for new leadership to strengthen decision-making and strategic direction.

Negative

• Loss of an experienced board member may create a gap in continuity and expertise.

Chimera Investment Corporation (NYSE: CIM) (the "Company") announced today that on February 22, 2021, Teresa Bryce Bazemore, an independent member of the Board of Directors (the “Board”) of the Company, notified the Company that she will resign from the Board effective as of February 28, 2021, in light of her additional duties in connection with her recent appointment as the President and Chief Executive Officer of the Federal Home Loan Bank of San Francisco.

“We are sorry to see Teresa go,” says Gerry Creagh, the Company’s Chairman of the Board. “She has been an outstanding member of our Board and we wish her the best of luck in her new role.”

About Chimera Investment Corporation

We are a publicly traded REIT that is primarily engaged in the business of investing in a diversified portfolio of real estate assets, including mortgage loans, Agency RMBS, Non-Agency RMBS, Agency CMBS, and other real estate assets.

Please visit www.chimerareit.com for additional information about the Company.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210223005886/en/

FAQ

What is the reason for Teresa Bryce Bazemore's resignation from CIM's Board?

Teresa Bryce Bazemore resigned to assume her new role as President and CEO of the Federal Home Loan Bank of San Francisco.

When did Teresa Bryce Bazemore resign from Chimera Investment Corporation's Board?

Her resignation is effective February 28, 2021.

How might Teresa Bryce Bazemore's resignation affect Chimera Investment Corporation?

Her departure could lead to a gap in experienced leadership, impacting board dynamics.

Who is the Chairman of the Board at Chimera Investment Corporation?

Gerry Creagh is the Chairman of the Board.