Rithm Acquisition Corp.
MANAGEMENT & BOARD
Executive Officers
Michael Nierenberg, 62
Chairman and Chief Executive Officer
Mr. Nierenberg is the Chief Executive Officer, Chairman of the board of directors, and President of Rithm. Mr. Nierenberg has been a member of Rithm’s board of directors, since November 2013 and its Chairman since May 2016. Mr. Nierenberg was appointed as Rithm’s Chief Executive Officer and President in November 2013. From November 2013 until June 2022, Mr. Nierenberg served as a Managing Director at Fortress, Rithm’s former external manager. From December 2020 until June 2022, Mr. Nierenberg also served as Chief Executive Officer and Chairman of the board of Fortress Acquisition, and, from January 2021 until June 2022, as a member of its Audit and Compensation Committees. Prior to becoming Chief Executive Officer of Rithm, Mr. Nierenberg served as a Managing Director and head of Global Mortgages and Securitized Products at Bank of America Merrill Lynch. Mr. Nierenberg joined Bank of America Merrill Lynch in November 2008 from J.P. Morgan, where he was head of Global Securitized Products and a member of the management committee of the investment bank. Prior to his tenure at J.P. Morgan, Mr. Nierenberg held a range of senior leadership positions during fourteen years with Bear Stearns & Co. Inc., including Head of Interest Rate and Foreign Exchange Trading Operations, Co-Head of Structured Products and Co-Head of Mortgage-Backed Securities Trading. From 2006 to 2008, he was a member of Bear Stearns’s board of directors. Mr. Nierenberg spent seven years at Lehman Brothers prior to joining Bear Stearns and was instrumental in building the company’s adjustable-rate mortgage business. Mr. Nierenberg’s knowledge, skill, expertise and experience as described make him well qualified to serve as a director.
Varun Wadhawan, 48
Chief Financial Officer
Mr. Wadhawan is a Managing Director at Rithm. Mr. Wadhawan has worked for Rithm since 2016, originally as a Managing Director in the Private Equity division of Fortress, Rithm’s former external manager. At Rithm, Mr. Wadhawan leads Corporate Strategy and M&A and has been instrumental in driving the investment and acquisition of various operating businesses. Mr. Wadhawan also served as Chief Operating Officer of Fortress Acquisition from January 2021 until June 2022. Prior to joining Rithm, Mr. Wadhawan spent 10 years at Bank of America Merrill Lynch in the Financial Institutions Investment Banking Group where he executed numerous M&A and capital raising transactions. Prior to Bank of America Merrill Lynch, Mr. Wadhawan worked at American Express and KPMG. Mr. Wadhawan received an M.B.A. from Cornell University, is a member of the Institute of Chartered Accountants of India and holds the Chartered Financial Analyst designation.
Board of Directors
Elizabeth Fascitelli, 66
Director Nominee
Ms. Fascitelli, a businesswoman and philanthropist, had a 37-year career with Goldman Sachs Group, most recently serving as a Partner and Managing Director and Chief Operating Officer of the Merchant Banking Division until June 2020. She served in multiple roles and on numerous firm wide committees including the divisional Investment, Risk and Client/Business Standards Committees. Ms. Fascitelli has also served on many public, private, and not for profit boards. She recently finished her eight-year term as a Trustee of Dartmouth College. Ms. Fascitelli currently serves on the boards of Bridger Aerospace Group Holdings, Inc., since March 2024, Cold Spring Harbor, since November 2021, CHDI, since January 2023, Perella Weinberg Partners, since May 2022 and Jaws Mustang Acquisition Corporation, since January 2021. Ms. Fascitelli is also co-chair of the Milwaukee Health Equity Initiative. Ms. Fascitelli earned a Bachelor of Arts from Dartmouth College and a M.B.A. from Harvard Business School. We believe Ms. Fascitelli significant investment banking experience as well as her significant knowledge of corporate finance and controls makes her well qualified to serve as a director.
Gary Kalk, 60
Director Nominee
Since October 2021, Mr. Kalk has served as the Chief Executive Officer of GOcxm Inc., an end-to-end conversion technology accelerator that transforms the way brands drive sales, marketing funnels, retail partner and direct customer relationships. From June 2006 to January 2020, Mr. Kalk served in various roles at Dealer-FX Group Inc., a software solutions and data platform for retail automotive businesses, including as Founder, President, Chief Executive Officer and Executive Chairman. Mr. Kalk has also served on several public and private boards. Since March 2020, Mr. Kalk has served on the board of Shopley Inc. From January 2022 until December 2022, Mr. Kalk also served on the board of Fortress Acquisition. We believe Mr. Kalk’s experience and expertise make him well qualified to serve as a director.