Real estate investment trust Annaly Capital Management (NLY) named Wellington Denahan-Norris co-CEO in order to allow Chairman and Chief Executive Officer Michael A.J. Farrell to focus on his ongoing treatment for cancer, the company said.

“Since Mike and I co-founded Annaly, we have always shared responsibility for managing the company,” said Denahan-Norris, Annaly’s vice chairman.

 “At this time, Mike has decided to devote all his time and energy to his treatment. We respect his decision, and will continue to support him,” she said.

Annaly’s board also appointed long-time senior executives Kevin Keyes and James Fortescue as the company’s president and COO, respectively.