In This Article:
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Addition of Ranjit Kripalani and William Addas to the Board of Directors adds further depth to the Board’s financial services, corporate advisory, strategic planning and public board experience
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Mr. Kripalani will be a member of the Board of Director’s Nominating and Corporate Governance Committee and Chair of the Mortgage and Regulatory Compliance Committee
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Mr. Addas will be a member of the Board of Director’s Audit Committee and Compensation Committee
NEW YORK, October 29, 2024--(BUSINESS WIRE)--Rithm Capital Corp. (NYSE:RITM, "Rithm Capital" or the "Company") announced today that the Board of Directors of the Company (the "Board") has elected Ranjit Kripalani and William Addas as independent members of the Board, each effective as of November 1, 2024.
"We are extremely excited to announce Ron and Will as new additions to our Board of Directors during an exciting time in Rithm Capital’s growth as an asset manager," said Michael Nierenberg, Chairman, Chief Executive Officer and President of Rithm Capital. "Both Ron and Will bring tremendous capital markets experience and practical industry knowledge to the Board. We look forward to working with Ron and Will as we continue to execute on our strategy, diversify and drive growth across our businesses and enhance value for our stakeholders."
In addition, Andrew Sloves will be joining Rithm Capital as a Managing Director to further develop the investment platform and will serve as a member of the investment committee. In connection with his appointment, Mr. Sloves has stepped down from his position as a director of the Company, effective as of November 1, 2024.
Ranjit M. Kripalani has served as a member of the Board of Directors of Griffin Realty Trust, Inc. (NYSE: GRT) and the chair of the Compensation Committee. Additionally, he served as a member of the Board of Directors of Western Asset Management Capital Corp and the chair of the Risk Committee. He has also served as a member of the Board of each of Combined Systems Incorporated and DAVI Audio. His prior work experience includes serving as the Chief Executive Officer of CRT Capital Group LLC, an institutionally focused broker‑dealer. Prior to that, he worked at Countrywide Capital Markets, Inc. and Countrywide Financial Corporation from 1998 to 2008, where he served in a number of roles, including as president of capital markets and executive managing director of Countrywide Financial Corp.. Prior to joining Countrywide, Mr. Kripalani served as managing director and head of mortgage trading for Chase Securities, Inc. from 1995 to 1998, and as managing director and head of mortgage trading for PaineWebber, Inc. from 1985 to 1995. Mr. Kripalani has a Bachelor of Arts degree in International Relations from Tufts University and a Graduate Diploma in Business Studies from the London School of Economics.