Franklin BSP Realty Trust (FBRT) announced that Michael Comparato has resigned as Chief Executive Officer and the Board has reappointed its Chairman, Richard J. Byrne, to the CEO position. The company also appointed its current CFO and COO, Jerome S. Baglien, to serve as Co-President.
Key Details
- CEO Reappointment: Richard J. Byrne, who previously served as CEO from 2016 to February 2026, was reappointed as CEO effective September 16, 2026. He will also continue to serve as Chairman of the Board.
- CEO Resignation: Michael Comparato resigned as CEO on September 15, 2026. He will transition to a Senior Advisor role at the company's external advisor, Benefit Street Partners L.L.C., through 2027.
- Co-President Appointment: Jerome S. Baglien, the company’s Chief Financial Officer and Chief Operating Officer, was appointed Co-President, effective September 16, 2026.