In a significant boardroom change, New York Community Bancorp , Inc. (NYSE:NYCB), a leading bank in the U.S., announced the resignation of six board members in connection with a recent investment. The resignations were effective as of Sunday, March 11, 2024. Thomas Cangemi, James Carpenter, Leslie Dunn, Lawrence Rosano Jr, Ronald Rosenfeld, and Robert Wann, collectively known as the Resigning Directors, stepped down from their positions on the NYCB Board.
The company clarified that these departures were not due to any disagreements with the bank's operations, policies, or practices. The announcement came following a strategic investment in the bank, details of which were not disclosed in the 8K filing.
Additionally, David Treadwell notified NYCB of his intention to leave the board on March 7, 2024, with his departure set to take effect upon the qualification of his successor. Treadwell will continue to serve until a new member is appointed.
Similarly, Lawrence Savarese announced his intention to resign, timed to follow the filing of NYCB's Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Savarese's resignation is also not due to any disagreement with the bank.
The series of resignations comes at a pivotal time for NYCB as it navigates the post-investment landscape. The bank has not yet announced successors for the resigning board members, nor has it provided details on the investment that preceded these changes.
This board restructuring is a significant event for shareholders and customers of NYCB, as the bank continues to align its leadership with its strategic objectives. The information for this article is based on a press release statement.
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