Chimera Investment Corporation Announces Retirement of Independent Director

Rhea-AI Summary

Chimera Investment Corporation (NYSE: CIM) announced that John P. Reilly, an independent board member since April 2010, will not seek re-election at the 2022 Annual Meeting of Stockholders, effective March 24, 2022. The company expressed gratitude for his significant contributions, including his roles on the Nominating/Corporate Governance and Compensation Committees. Reilly's departure marks a change in the board composition, which could influence future governance.

Positive

• Mr. Reilly served on critical committees, contributing to the company's governance.

Negative

• Reilly's departure may impact board dynamics and governance oversight.

NEW YORK--(BUSINESS WIRE)-- Chimera Investment Corporation (NYSE: CIM) (the "Company") announced today that on March 24, 2022, John P. Reilly, an independent member of the Board of Directors (the “Board”) of the Company since April 2010, notified the Company that he will not stand for re-election at the Company’s 2022 Annual Meeting of Stockholders. Mr. Reilly’s term will end at the conclusion of the Company’s 2022 Annual Meeting Date.

“The Company thanks Mr. Reilly for his many years of service. Mr. Reilly has been a key component of our success having been a member of our Nominating/Corporate Governance Committee and our Compensation Committee and served on those committees with distinction. We are sad to see him go and wish him the best,” says Gerry Creagh, the Company’s Chairman of the Board.

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.

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Investor Relations

888-895-6557

www.chimerareit.com

Source: Chimera Investment Corporation

FAQ

Why is John P. Reilly leaving Chimera Investment Corporation?

John P. Reilly will not stand for re-election at the 2022 Annual Meeting of Stockholders.

When is the 2022 Annual Meeting of Stockholders for CIM?

The 2022 Annual Meeting date is yet to be specified in the press release.

What was John P. Reilly's role at Chimera Investment Corporation?

Reilly was an independent board member and served on the Nominating/Corporate Governance and Compensation Committees.

How long has John P. Reilly been on the board of CIM?

He has been a member since April 2010.

What is Chimera Investment Corporation's primary business?

Chimera Investment Corporation primarily invests in a diversified portfolio of real estate assets, including mortgage loans and various types of RMBS.