MILL VALLEY, Calif.--(BUSINESS WIRE)--
Doug Hansen has announced his decision to retire as President of
Redwood Trust, Inc. (NYSE:RWT) by the end of 2008. He will remain a
Director of the Company and, during 2008, he will continue to work on
management succession and new business development.
George Bull, Redwood's CEO and Chairman, announced the appointment
of Brett Nicholas as Chief Investment Officer. Nicholas and Marty
Hughes, Redwood's Chief Financial Officer, will serve as Co-Chief
Operating Officers and be responsible for managing the day-to-day
operations of the Company, reporting directly to Bull.
"I am looking forward to the opportunity of continuing to work
with George, and with Brett and Marty in their new roles and
responsibilities," said Hansen. "I remain committed to Redwood, and
confident in its leadership and its prospects for significant growth.
Redwood has been a major part of my life, and I am excited by the
chance to focus my energies on finding new opportunities for its
future."
George Bull remarked, "Doug and I founded this Company in 1994.
Together, we have made it a company that reflects our values and
commitment to excellence. I look forward to having the benefit of
Doug's superb counsel and friendship as we continue to build the
company for its shareholders."
For more information about Redwood Trust, Inc., please visit our
website at: www.redwoodtrust.com.
CAUTIONARY STATEMENT: This press release contains forward-looking
statements within 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 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 our Annual Report on Form 10-K for the year ended
December 31, 2006 under the caption "Risk Factors." Other risks,
uncertainties, and factors that could cause actual results to differ
materially from those projected are described below and may be
described from time to time in reports we file with the Securities and
Exchange Commission (SEC), including reports on Forms 10-K, 10-Q, and
8-K. We undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Important factors, among others, that may affect our actual
results include: changes in interest rates; changes in prepayment
rates; general economic conditions, particularly as they affect the
price of earning assets and the credit status of borrowers; the
availability of high quality assets for purchase at attractive prices;
declines in home prices; increases in mortgage payment delinquencies;
changes in the level of liquidity in the capital markets which may
adversely affect our ability to finance our real estate asset
portfolio; changes in liquidity in the market for real estate
securities, the re-pricing of credit risk in the capital markets,
rating agency downgrades of securities and increases in the supply of
real estate securities available for sale, each of which may adversely
affect the values of securities we own; the extent of changes in the
values of securities we own and the impact of adjustments reflecting
those changes on our income statement and balance sheet, including our
stockholders' equity; our ability to maintain the positive
stockholders' equity necessary to enable us to pay the dividends
required to maintain our status as a real estate investment trust for
tax purposes; and other factors not presently identified. This press
release may contain statistics and other data that in some cases have
been obtained from or compiled from information made available by
servicers and other third-party service providers.
Source: Redwood Trust, Inc.
Contact: Redwood Trust, Inc.
George Bull, 415-389-7373