Business Context and Reporting Period
This Form 8-K filing by Assured Guaranty Ltd. (Bermuda) covers the event date of November 20, 2014. The report addresses a change in corporate governance regarding the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current report regarding a specific corporate event and does not contain financial statements.
Material Changes
Wilbur L. Ross, Jr. submitted his resignation from the Board of Directors of Assured Guaranty Ltd. effective immediately on November 20, 2014. The resignation was not due to any disagreement with the company.
Outlook and Management Commentary
According to a press release issued by WL Ross and Co. LLC on November 21, 2014, Mr. Ross was elected Vice Chairman of Bank of Cyprus. Consequently, due to rules limiting the directorships of bank officers, he is resigning from the boards of several companies, including Assured Guaranty. No other guidance, risks, or unusual items are disclosed in this filing.
Key Facts for Investors
- Wilbur L. Ross, Jr. resigned from the Board of Directors effective November 20, 2014.
- The resignation is attributed to his new role as Vice Chairman of Bank of Cyprus and regulatory limits on bank officer directorships.
- Management states there is no disagreement between Mr. Ross and Assured Guaranty.
- This filing contains no financial performance data.