Anthracite Capital Announces Changes to Board of Directors
Author: Anthracite Capital
Source: Anthracite Capital
Date: 06-04-2007
Anthracite Capital Announces Changes to Board of Directors
NEW YORK--(BUSINESS WIRE)--Anthracite Capital, Inc. ("Anthracite" or the "Company") (NYSE:AHR - News) today announced that the Company's shareholders have elected John B. Levy to the Board of Directors ("Board") and re-elected Carl F. Geuther. Additionally, as previously announced, Leon T. Kendall's retirement from the Board was effective following today's annual stockholders' meeting.
The Company also announced the resignation of board member Donald G. Drapkin, effective May 22, 2007. Mr. Drapkin's decision was made in light of his recently joining Lazard Ltd. as Vice Chairman of Lazard International and Chairman of Lazard's Investment Committee. Mr. Drapkin, who has served on Anthracite's Board of Directors since March 1998, was a member of the Company's Compensation and Nominating & Governance Committees.
Chris Milner, Chief Executive Officer of the Company, stated, "We are extremely pleased to have John join the Board and would like to sincerely thank Don and Lee for their service on the Board."
About Anthracite
The Company also announced the resignation of board member Donald G. Drapkin, effective May 22, 2007. Mr. Drapkin's decision was made in light of his recently joining Lazard Ltd. as Vice Chairman of Lazard International and Chairman of Lazard's Investment Committee. Mr. Drapkin, who has served on Anthracite's Board of Directors since March 1998, was a member of the Company's Compensation and Nominating & Governance Committees.
Following the above changes, the Board consists of seven directors, four of whom are not affiliated with the Company.
Chris Milner, Chief Executive Officer of the Company, stated, "We are extremely pleased to have John join the Board and would like to sincerely thank Don and Lee for their service on the Board."
About Anthracite
Anthracite Capital, Inc. is a specialty finance company focused on investments in high yield commercial real estate loans and related securities. Anthracite is externally managed by BlackRock Financial Management, Inc., which is a subsidiary of BlackRock, Inc. ("BlackRock") (NYSE:BLK - News), one of the largest publicly traded investment management firms in the United States with approximately $1.154 trillion in global assets under management at March 31, 2007. BlackRock Realty Advisors, Inc., another subsidiary of BlackRock, provides real estate equity and other real estate-related products and services in a variety of strategies to meet the needs of institutional investors.
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