Tiptree announces transition plan to CFO


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NEW YORK–(BUSINESS WIRE)–Tiptree Inc. (NASDAQ: TIPT) (“Tiptree” or the “Company”), today announced that Sandra Bell will retire as Chief Financial Officer of Tiptree, effective of March 31, 2023 (or if later, the filing of Tiptree’s 2022 Form 10-K (the “Effective Date of Transition”).

Tiptree also announced that Scott McKinney will succeed Ms. Bell as Chief Financial Officer on the effective date of the transition. The Company and Ms. Bell have mutually agreed to the terms under which she will remain as Chief Financial Officer until the effective date of the transition.

Ms Bell said: “I came to Tiptree with the objective of building a strong financial platform to support our management team in their capital allocation and other strategic decisions. Now that we’ve achieved that goal, I think it’s time for me to move into the next phase of my career and focus on advisory roles and serving on public company boards. I am confident that I am leaving the financial organization in good hands under Scott’s leadership.

Executive Chairman Michael Barnes said, “On behalf of the Board of Directors, we are extremely grateful to Sandra for her accomplishments and her leadership at Tiptree. Sandra has been an integral part of our management team since she joined us in 2015. We wish her every success in the future.

Mr. McKinney was recently promoted to Deputy Chief Financial Officer in April this year and previously served as Director of Financial Planning and Analysis, which included overseeing strategic planning and financial analysis as well as directing our investor relations efforts. Prior to joining Tiptree in 2016, Mr. McKinney held various senior finance positions at General Electric Company. Mr. McKinney earned his bachelor’s degree in management from Purdue University.

Mr. Barnes said: “Scott has been with us for many years, has an in-depth knowledge of our business and is well qualified and prepared to take on his new responsibilities. The Board and I are delighted to welcome Scott to his new role.

About Tiptree

Tiptree Inc. (NASDAQ: TIPT) allocates capital to select small and medium-sized businesses with a mission to create long-term value. Founded in 2007, we have significant investment experience in the insurance industry and a variety of other industries, including mortgage origination, specialty finance and shipping. With exclusive access and a flexible capital base, we seek to uncover compelling investment opportunities and help management teams unlock the full value potential of their businesses. For more information, please visit tiptreeinc.com and follow us on LinkedIn.

Forward-looking statements

This release contains “forward-looking statements” that involve risks, uncertainties and contingencies, many of which are beyond the control of the Company, which may cause actual results, performance or achievements to differ materially from the results, performance or achievements anticipated. All statements in this release that are not clearly historical in nature are forward-looking, and the words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may “, “could”, “plan”, “project”, “should”, “target”, “will” or similar expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements about the company’s plans, objectives, expectations regarding our business and our intentions. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, many of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or anticipated in the forward-looking statements. – look at the statements. Our actual results could differ materially from those anticipated in these forward-looking statements due to a variety of factors, including, but not limited to, those described in the section titled “Risk Factors” in the Company’s Annual Report on Form 10. -K, and as described in the Company’s other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The factors described herein are not necessarily all important factors that could cause actual results or developments to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors could also affect our forward-looking statements. Accordingly, our actual performance could differ materially from the results described or anticipated by our forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Except as required by federal securities laws, we assume no obligation to update forward-looking statements.

Tip Tree Inc.

Investor Relations, 212-446-1400

[email protected]

Source: Tiptree Inc.

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