This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Congressmen-Elect John K. Delaney Steps Down As CapitalSource Board Chairman

Stock quotes in this article: CSE

LOS ANGELES, Dec. 20, 2012 (GLOBE NEWSWIRE) -- CapitalSource Inc. (NYSE:CSE) today announced that its Founder, John K. Delaney, has resigned as Chairman and a member of the Company's Board of Directors and as a member of the CapitalSource Bank Board of Directors, effective immediately, as he completes preparations to join the 113 th Congress as a Member of the U.S. House of Representatives. Long-time Board member and Presiding Independent Director William G. Byrnes has been elected to succeed Delaney as Chairman. The Board recognized Mr. Delaney's contributions to the Company since its founding in 2000 with the honorary title of Chairman Emeritus. He will take office on January 3, 2013, representing the 6th Congressional District in Maryland.

"I love CapitalSource and am devoted to many of the individuals who contributed to our success over the years, so it is a special honor to be awarded the Chairman Emeritus title," said Congressman-elect John K. Delaney. "I have always subscribed to the belief that our work in life falls into one of three categories - duty, obligation, or privilege. Starting CapitalSource and working with all of my colleagues across the past 12 years has always been a privilege. I am particularly pleased that Jim Pieczynski and Tad Lowrey are managing the Company and that Bill Byrnes will be Board Chair," added Delaney. "Jim and Tad are doing a truly exceptional job leading CapitalSource and Bill has a deep understanding of the strategic priorities for the Company.

"In addition to thanking my colleagues for making CapitalSource possible, I want to thank the countless individuals outside the Company with whom I have had the pleasure of working, including our clients, investors, lenders, regulators and advisors. Based on its people, its market position, and its financial strength, the future business prospects for CapitalSource are extremely bright,"concluded Delaney.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs