Mr. DiNello will take on the role of Principal Executive Officer, making him the most senior executive officer of the company, on that date. With effect from February 7, 2024, Thomas R. Cangemi, who formerly held the position of principal executive officer, will remain the company’s president and chief executive officer in addition to being a director. He will be accountable to the executive chairman.
Mr. DiNello, 69, will continue to serve on the Board and collaborate with Thomas R. Cangemi, the Company’s CEO, and the senior executive leadership team to enhance every facet of Flagstar Bank, N.A.’s operations. Flagstar Bank, N.A. is the Company’s wholly owned subsidiary.
Following the completion of the Flagstar Bank acquisition in December 2022, Mr. DiNello joined the company and has most recently served as the Non-Executive Chairman of the Board. He had served as Flagstar Bank’s president and CEO since 2013.
The Company’s 2023 Proxy Statement, which was filed on April 21, 2023, with the Securities and Exchange Commission, contains a biography of Mr. DiNello and is referenced in this Item 5.02.
Mr. DiNello has no family ties to any of the company’s directors or executive officers, nor is he in any way designated as the company’s executive chairman in accordance with any agreements or understandings. Mr. DiNello has not engaged in any direct or indirect transactions that would necessitate disclosure.
