Attached files
| file | filename |
|---|---|
| 8-K - REDWOOD TRUST INC | v177813_8k.htm |
| EX-10.1 - REDWOOD TRUST INC | v177813_ex10-1.htm |
| EX-10.2 - REDWOOD TRUST INC | v177813_ex10-2.htm |
Exhibit
99.1
[LOGO]
|
FOR IMMEDIATE RELEASE
|
CONTACTS:
|
Mike
McMahon
|
|
Redwood
Trust, Inc.
|
(415)
384-3805
|
|
|
Wednesday,
March 17, 2010
|
|
|
|
Martin
S. Hughes
|
||
|
(415)
389-7373
|
Redwood
Trust, Inc.'s George Bull Plans Retirement as Chief Executive
Officer
Current President,
Martin Hughes, to be Promoted to CEO
MILL
VALLEY, Calif., March 17, 2010 — Redwood Trust, Inc. (NYSE: RWT) today announced
that George E. Bull, III will retire as Chief Executive Officer effective
on May 18, 2010. He will remain a Director and Chairman of the Board of
Directors of the company.
In
connection with Mr. Bull’s retirement, the Board of Directors has announced that
Martin S. Hughes will be promoted to Chief Executive Officer and President on
May 18, 2010. In addition, Brett D. Nicholas will be promoted
to sole Chief Operating Officer and Executive Vice President, while continuing
in his capacity as Chief Investment Officer.
George
Bull remarked, “Doug Hansen and I founded Redwood Trust in 1994, and I am proud
of our accomplishments and performance for long-term shareholders over the past
16 years. The Board has worked with me and carefully overseen the
process for selecting and transitioning the executive management of the company,
and I am confident that Marty Hughes and Brett Nicholas are well prepared and
will continue to be strong leaders and disciplined stewards of shareholder
capital.” Mr. Bull continued, “In my continuing capacity as Chairman
of the Board, I will remain engaged in providing strategic guidance and
maintaining the culture and principles that have been the foundation of our
success. As Redwood’s largest individual shareholder, I see
significant opportunities for the company in the future and believe that the
outlook for long-term shareholders continues to be positive.”
Cautionary
Statement: This press release contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements involve numerous risks and
uncertainties. Our actual results may differ from our beliefs, expectations,
estimates, and projections and, consequently, you should not rely on these
forward-looking statements as predictions of future events. Forward-looking
statements are not historical in nature and can be identified by words such as
“anticipate,” “estimate,” “will,” “should,” “expect,” “believe,” “intend,”
“seek,” “plan” and similar expressions or their negative forms, or by references
to strategy, plans, or intentions. These forward-looking statements are subject
to risks and uncertainties, including, among other things, those described in
Redwood Trust’s Annual Report on Form 10-K for the year ended December 31, 2009
under the caption “Risk Factors.” We undertake no obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events, or otherwise.