ARLINGTON, Va., March 23, 2015 /PRNewswire/ -- Arlington Asset Investment Corp. (NYSE: AI) (the "Company") today announced the appointment of Richard E. Konzmann as the Company's Executive Vice President, Chief Financial Officer ("CFO") and Treasurer, effective today. Mr. Konzmann succeeds Kurt R. Harrington, age 62, who is retiring after serving as the Company's CFO for the last fifteen years. To assist with the transition, Mr. Harrington will remain an employee of the Company until April 30, 2015.
"Along with the rest of the Board and all the employees, I thank Kurt for his countless contributions and dedication to the Company over the years, and we wish him the very best in his retirement," said J. Rock Tonkel, Jr., the Company's President and Chief Executive Officer.
Mr. Tonkel continued, "We are very pleased to find someone of Rich's caliber who is able to assume the role of CFO. Rich is a deeply experienced finance and accounting executive with nearly 25 years of experience. We believe that Rich's strong industry experience, leadership, and technical skills make him the ideal person to assume the CFO position and will be a strong complement to our executive team. We welcome him to the Company and look forward to his future contributions to the business."
Mr. Harrington said: "While I'm very excited about starting a new chapter in my life and will miss my Arlington colleagues, I am completely confident that the Company is in excellent hands. I have the utmost confidence in Rich's capabilities."
"I'm excited and honored to join the executive team at Arlington," said Mr. Konzmann. "I look forward to the opportunity to play a strong leadership role in the financial management of the Company and to help advance the Company's strategic objectives to continue to deliver value to its shareholders."
About Mr. Konzmann
Since 2002, Mr. Konzmann was employed by American Capital, Ltd. (NASDAQ: ACAS), a publicly traded private equity firm and global asset manager. In 2006, Mr. Konzmann became Senior Vice President, Accounting of American Capital, Ltd. where he was responsible for all accounting, financial reporting, loan servicing and tax compliance for the alternative asset management company and its funds under management, including publicly traded mortgage real estate investment trusts (American Capital Agency Corp. and American Capital Mortgage Investment Corp.), publicly traded business development companies and private equity funds. Prior to joining American Capital, Ltd., Mr. Konzmann served in various controllership, finance and asset management roles with Crestline Capital Corporation and Host Marriott Corporation and began his career with the public accounting firm Deloitte and Touche LLP. Mr. Konzmann graduated from Pennsylvania State University with a Bachelor of Science in Accounting and is a Certified Public Accountant and Certified Valuation Analyst.
About the Company
Arlington Asset Investment Corp. (NYSE: AI) is a principal investment firm that currently invests primarily in mortgage-related and other assets. The Company is headquartered in the Washington, D.C. metropolitan area. For more information, please visit www.arlingtonasset.com.
Certain statements in this press release are forward-looking as defined by the Private Securities Litigation Reform Act of 1995. These include statements regarding the impact of Mr. Konzmann on the Company. Forward-looking statements can be identified by forward-looking language, including words such as "believes," "expects," "anticipates," "estimates," "plans," "continues," "intends," "should", "may," and similar expressions. Due to known and unknown risks, including the risk that the assumptions on which the forward-looking statements are based prove to be inaccurate, actual results may differ materially from expectations or projections. These risks also include those described in our Annual Report on Form 10-K for the year ended December 31, 2014, as amended, which has been filed with the Securities and Exchange Commission. Readers of this press release are cautioned to consider these risks and uncertainties and not to place undue reliance on any forward-looking statements. The Company does not undertake any obligation to update any forward-looking statement, whether written or oral, relating to matters discussed in this press release, except as may be required by applicable securities laws.
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SOURCE Arlington Asset Investment Corp.