- Push-out Score determined
- After around 13 years in the position
- Thanks for Lambiase
- Mo Marria taking over
- Lambiase kept it short and said 28 words
(exechange) — New York, November 17, 2020 — Matt Lambiase, chief executive of Chimera, leaves. As announced by Chimera Investment Corp. in a news release and in a regulatory filing published on Tuesday, November 17, 2020, Matthew J. (Matt) Lambiase leaves his post as chief executive officer of the Real Estate Investment Trust after around 13 years in the role, effective December 31, 2020.
Matt Lambiase’s duties as CEO will be taken over by Mohit (Mo) Marria, currently Chief Investment Officer of Chimera Investment Corp.
Matt Lambiase’s move forms part of a management shake-up also involving the position of President.
“Desire to spend more time with his family”
The management change is explained as follows. Chimera said: “Mr. Lambiase has expressed a desire to spend more time with his family and will assist the Company with a smooth transition.”
Precise information regarding Matt Lambiase’s future plans was not immediately available.
Chimera said: “Matthew J. Lambiase will retire from his roles as President and Chief Executive Officer of the Company effective December 31, 2020.”
Share price decline since November 2019
The announcement follows a decline in Chimera Investment Corp.’s share price of 49% since November 2019.
Chaired by Paul Donlin
Paul Donlin serves as Chimera Investment Corp.’s Chairman.
Paul Donlin was appointed as one of the Company’s Class I Directors and the Company’s Nonexecutive Chairman of the Board of Directors on November 15, 2007.
In the position of CEO since 2007
Matt Lambiase became CEO of the Company in 2007.
Lambiase will continue to serve on the Company’s Board of Directors until his retirement.
Matthew Lambiase has served as the Company’s President and Chief Executive Officer and one of the Company’s directors since August 2007.
Prior to becoming the Company’s Chief Executive Officer and President, Lambiase was a Managing Director and Head of Business Development for Annaly Capital Management, Inc.
Before that, Lambiase was a Director in Fixed Income Sales at Nomura Securities International, Inc. Over his 11-year employment at Nomura, Lambiase was responsible for the distribution of commercial and residential mortgage-backed securities to a wide variety of institutional investors.
Lambiase also held positions at Bear, Stearns & Company as Vice President in Institutional Fixed Income Sales and as a mortgage analyst in the Financial Analytics and Structured Transaction Group.
Lambiase has a Bachelor’s Degree in Economics from the University of Dayton.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Chimera and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 47.2020 ($).