SEATTLE, June 4, 2012 /PRNewswire/ -- WMI Holdings
Corp., (Pink Sheets: WMIH) (the "Company"), formerly Washington
Mutual, Inc., today announced that Timothy
Jaeger has been named Interim Chief Accounting Officer of
the Company, effective May 28,
2012. Mr. Jaeger, who is a principal of CXO Consulting Group,
LLC, has been retained through an Engagement Agreement entered into
between the Company and CXO.
Charles Edward Smith, Interim
Chief Executive Officer, stated, "We are pleased to add
Timothy Jaeger as Interim Chief
Accounting Officer. Tim brings broad accounting experience in
a number of cross-industry contexts, including public and private
companies as well as venture capital and corporate acquisitions.
We look forward to working closely with him."
Mr. Jaeger, age 53, is a Certified Public Accountant with over
25 years of accounting experience. Most recently, from
December 2006 to March 2012, Mr. Jaeger served as Senior Vice
President-Chief Accounting Officer/CFO of Macqurie AirFinance,
Ltd., a global aviation lessor providing aircraft and capital to
the world's airlines. From November
2006 to December 2009, Mr.
Jaeger was a partner of Tatum Partners, LLC, an executive services
and consulting firm in the U.S. From June 2005 to October
2006, Mr. Jaeger, serving as principal of CXO Consulting
Group, LLC, was Interim Controller/Sarbanes Oxley Coordinator at
ICON Estates/Robert Mondavi Winery/Constellation Brands.
About WMI Holdings
WMI Holdings Corp., formerly Washington Mutual, Inc., consists
primarily of WM Mortgage Reinsurance Company, Inc. ("WMMRC"), a
wholly owned subsidiary of WMI that is incorporated in Hawaii. The primary business of WMI Holdings
is a legacy reinsurance business that is currently operated in
runoff mode by WMMRC.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain statements that may be
deemed to be forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on the Company's current
plans, expectations, estimates and management's beliefs about the
Company's future performance. Words such as "anticipates,"
"expects," "intends," "plans," "believes," "seeks," "estimates" or
variations of such words and similar expressions are intended to
identify such forward-looking statements. These
statements are not guarantees of future performance and are subject
to risks and uncertainties that are difficult to predict and which
may cause the Company's actual results and performance to differ
materially from those expressed or forecasted in any such
forward-looking statements. These risks include, among
other factors, changes in business, economic and market conditions,
changes in government regulation, and changes in the competitive
environment in which the Company operates. Some of the
specific risks that are associated with the Company include, but
are not limited to, the following: (i) the Company does not
currently intend to have any of its securities listed on an
exchange or a national market and, therefore, its common stock may
have less liquidity than exchange-traded securities;
(ii) transfers of the common stock of the Company are and will
continue to be subject to certain transfer restrictions as set
forth in the Articles and Bylaws; (iii) there is no guarantee
that the Company will be able to successfully utilize the net
operating losses that will be retained by the Company; and
(iv) the Company may need to seek regulatory approval from the
Hawaii State Insurance Commissioner from time to time with respect
to certain aspects of WM Mortgage Reinsurance Company, Inc.'s
operations. However, readers should carefully review the
statements set forth in the reports, which the Company has filed or
will file from time to time with the Securities and Exchange
Commission
SOURCE WMI Holdings Corp.