Sachem Capital Corp. Announces Management Transition
Sachem Capital Corp. (NYSE American: SACH) announced the resignation of Chief Investment Officer William C. Haydon to pursue retirement and other opportunities. His responsibilities will be transitioned to CEO John Villano and the finance and accounting team. Haydon will remain an advisor until July 31, 2023. CEO Villano expressed appreciation for Haydon's contributions in establishing a strong team and underwriting standards that support the company's future.
- John Villano taking over CIO responsibilities may strengthen leadership and continuity.
- Haydon's contributions established strong team dynamics and underwriting standards.
- William Haydon's departure may create gaps in investment strategy continuity.
BRANFORD, Conn., Jan. 11, 2023 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) today announced that William C. Haydon, has resigned to pursue retirement and other opportunities. Mr. Haydon’s responsibilities as Chief Investment Officer will be assumed by Chief Executive Officer John Villano. Mr. Haydon’s other responsibilities will be assumed by the finance and accounting team. To ensure an orderly transition, Mr. Haydon has agreed to remain as an advisor to the company until July 31, 2023.
Mr. Villano, stated, “We are appreciative of Bill’s many contributions to the organization. During his tenure he helped us put in place a strong team and underwriting standards that we believe position us well for the future. We wish Bill well in his future endeavors.”
About Sachem Capital Corp.
Sachem Capital Corp. is a financing REIT that specializes in originating, underwriting, funding, servicing, and managing a portfolio of first mortgage loans. It offers short-term (i.e., three years or less) secured, nonbanking loan to real estate investors to fund their acquisition, renovation, development, rehabilitation, or improvement of properties. The company’s primary underwriting criteria is a conservative loan to value ratio. The properties securing the loans are generally classified as residential or commercial real estate and, typically, are held for resale or investment. Each loan is secured by a first mortgage lien on real estate and is personally guaranteed by the principal(s) of the borrower. The company will also make opportunistic real estate purchases apart from its lending activities.
Forward Looking Statements
This press release may contain forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements. The words “anticipate,” “estimate,” “expect,” “project,” “plan,” “seek,” “intend,” “believe,” “may,” “might,” “will,” “should,” “could,” “likely,” “continue,” “design,” and the negative of such terms and other words and terms of similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to several risks, uncertainties and assumptions as described in our Annual Report on Form 10-K for 2021 filed with the U.S. Securities and Exchange Commission on March 31, 2022, as supplemented by our subsequently filed Quarterly Reports on Form 10-Q. Because of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this press release may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. In addition, neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. We disclaim any duty to update any of these forward-looking statements. All forward-looking statements attributable to us are expressly qualified in their entirety by these cautionary statements as well as others made in this press release. You should evaluate all forward-looking statements made by us in the context of these risks and uncertainties.
Investors:
Email: investors@sachemcapitalcorp.com
FAQ
What prompted the resignation of William C. Haydon at Sachem Capital Corp.?
Who is assuming William Haydon's responsibilities at Sachem Capital Corp.?
How long will William Haydon remain with Sachem Capital Corp. after his resignation?
What are the implications of William Haydon's resignation for Sachem Capital Corp.?
