– USA, NY – Chimera Investment Corporation (NYSE: CIM) today announced the appointment of Mohit Marria, current Chief Investment Officer, to its Board of Directors, effective immediately to serve as CEO beginning January 1, 2021, upon Matt Lambiase retirement.
Mr. Lambiase has expressed a desire to spend more time with his family and will assist the Company with a smooth transition, and will retire from his roles as President and CEO, effective December 31, 2020. He will continue to serve on the Board of Directors until his retirement.
Mr. Lambiase stated, “It has been my pleasure to lead Chimera for the last 13 years. I retire knowing the Company is in good hands and has a bright future ahead.”
The company also announced the appointment of current COO Choudhary Yarlagadda to the Board of Directors, effective immediately to serve as President in addition to his role as COO.
Paul Donlin, Chairman of the Board, said, “We cannot thank Matt enough for the work he’s done for us. At the same time, Mo has been a proven leader in his previous roles with the Company, particularly during the turmoil created by the COVID-19 pandemic. We are excited about the direction Mo will take us. We are also excited for Choudhary’s continued leadership and expertise, and he continues to be an integral member of the Chimera team.”
Mr. Marria commented, “I’m thankful for the opportunity to lead the Company, and excited for what we can achieve together. I look forward to working with the rest of the management team and the Board to seek value for our shareholders.”
Mr. Yarlagadda added, “I am excited for the future of the Company, and look forward to working with Mo and others as we enter this next chapter of Chimera’s history.”
For more information: http://www.chimerareit.com/
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