Mark Gruber is retiring from his role as chief investment officer and COO of ARMOUR Residential REIT Inc., effective March 31, 2020, in order to pursue outside interests.

Gruber will continue in his current positions through the first quarter of 2020.

Scott Ulm and David Sayles will act as co-chief investment officers, effective March 31, 2020. Ulm is currently the company's co-CEO, co-vice chairman and chief risk officer, while Sayles serves as the managing director for portfolio and risk analysis at the company's external manager, ARMOUR Capital Management LP.

Jeffrey Zimmer, ARMOUR Residential REIT's co-CEO, co-vice chairman and president, will assume the responsibilities of COO while the company searches for a permanent replacement. Zimmer's transition to this position at the end of the first quarter of 2020 will depend on the results of the search.