Chimera Investment Corp. shares advanced by 2.7% in premarket trades Monday after the New York-based real estate investment trust named its chief legal officer Phillip J. Kardis II as CEO and director. Mohit Marria has stepped down as CEO, chief investment officer and director. Choudhary A. Yarlagadda, president, chief operating officer and director, and Dan Thakkar, chief risk officer, are now co-chief investment officers. “With rapidly changing market dynamics and a vastly different environment than even twelve months ago, our board is taking decisive and necessary action to strengthen business performance and drive improved results for our shareholders,” said Gerry Creagh, chairman of the company.
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