An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Franklin BSP Realty Trust, Inc. Announces Appointment of Joe Dumars to the Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) has appointed Joe Dumars to its Board of Directors effective January 1, 2023. Dumars, a seasoned executive with a background in sports management and operations, adds valuable leadership experience to the board, which now consists of eight members, seven of whom are independent. His extensive experience, including roles in the NBA, is expected to enhance board dynamics. As of September 30, 2022, FBRT held approximately $6.2 billion in assets and is managed by Benefit Street Partners.
Positive
Appointment of Joe Dumars enhances board leadership and diversity.
Board now consists of seven independent directors, strengthening governance.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced the appointment of Joe Dumars to the FBRT Board of Directors, effective January 1, 2023. Following the appointment of Mr. Dumars, the Board will comprise eight directors, seven of whom will be independent.
Mr. Dumars, 59, is an experienced executive, owner, and operator of multiple businesses with a track record of accomplishments based on individual contribution, leadership and team building. Mr. Dumars has been the EVP and head of basketball operations for the National Basketball Association (“NBA”) since 2022. Previously, Mr. Dumars was the Chief Strategy Officer for the Sacramento Kings NBA franchise from 2020 through 2022 and was president of the basketball division of Independent Sports & Entertainment, LLC, an integrated sports, media, entertainment, and management company from 2017 through 2019. Mr. Dumars began his professional career as a basketball player in 1985 when he was drafted by the Detroit Pistons franchise. He played for the team until 1999, being named an NBA All-Star six times, and served as president of basketball operations for the Pistons from 1999 to 2014. Mr. Dumars has a B.S. in management from McNeese State University.
“We are very excited to have Joe Dumars join the Company’s Board of Directors and believe his extensive management background and diverse array of knowledge will further strengthen our Board,” said Richard Byrne, Chairman and Chief Executive Officer of FBRT.
Peter McDonough, Chair of the Board’s Nominating and Corporate Governance Committee, added, “On behalf of the Company and our stockholders, we are honored to have Joe’s leadership and experience supporting FBRT. The Board of Directors looks forward to his future contributions and insights.”
About Franklin BSP Realty Trust, Inc.
Franklin BSP Realty Trust, Inc. (NYSE: FBRT) is a real estate investment trust that originates, acquires, and manages a diversified portfolio of commercial real estate debt secured by properties located in the United States. As of September 30, 2022, FBRT had approximately $6.2 billion of assets. FBRT is externally managed by Benefit Street Partners L.L.C., a wholly owned subsidiary of Franklin Resources, Inc. For further information, please visit www.fbrtreit.com.
Joe Dumars is the newly appointed director on FBRT's Board, effective January 1, 2023. He brings extensive experience in leadership and management from his roles in sports.
What impact does Joe Dumars' appointment have on FBRT?
Dumars' appointment is expected to strengthen FBRT's leadership and governance, providing fresh insights and strategic guidance.
How many directors are on the FBRT Board after this appointment?
After Joe Dumars' appointment, the FBRT Board comprises eight directors, with seven being independent.
What is the asset value of FBRT as of September 2022?
As of September 30, 2022, FBRT had approximately $6.2 billion in assets.
