Business
Great Elm Group, Inc. Appoints Jason Reese as CEO
WALTHAM, Mass., May 05, 2023 (GLOBE NEWSWIRE) -- Great Elm Group, Inc. (“we,” “us,” “our,” the “Company,” or “GEG”) (NASDAQ: GEG), an alternative asset
About this update from Great Elm Capital Corp.
[{"type":"text","content":"WALTHAM, Mass., May 05, 2023 (GLOBE NEWSWIRE) -- Great Elm Group, Inc. (“we,” “us,” “our,” the “Company,” or “GEG”) (NASDAQ: GEG), an alternative asset manager, announced today that Peter Reed has resigned as Chief Executive Officer effective immediately following the filing of the Company’s Form 10-Q for the quarter ended March 31, 2023. The Board of Directors has unanimously appointed Jason Reese to the additional role of CEO effective upon Mr. Reed’s resignation. Jason Reese assumes the CEO position at GEG as a successful entrepreneur and financial services executive with over 30 years of experience founding and growing multiple financial services and real estate companies. Mr. Reese served as the Executive Chairman of our Board of Directors since February 2020 and will now serve as Chairman of the Board and CEO. Mr. Reese is the Co-Founder, Chairman and Chief Executive Officer of Imperial Capital Asset Management, LLC (“ICAM”) and the Co-Founder of Imperial Capital, LLC (“Imperial Capital”), both founded in 1997. ICAM is a registered investment advisor that has managed various investment vehicles including hedge funds, investment partnerships, a private REIT and a private equity fund. Imperial Capital is a registered broker-dealer. During his time at Imperial Capital, Mr. Reese formed Monomoy Properties REIT, LLC in 2014, focusing on the Industrial Outdoor Storage sector, and continues to serve on the Board of Directors. Mr. Reese is also a founding member of City Ventures, LLC, a California-based private home builder, and has served on the Board of Directors since its inception in 2009. Mr. Reese graduated with honors from Yale University with a B.S. in Electrical Engineering. Through his position at ICAM and various affiliates, Mr. Reese is the largest beneficial owner of GEG stock. “On behalf of the Board, I am thrilled to have Jason expand his role with GEG to CEO,” said Matt Drapkin, GEG Board Vice Chairman. “The Company has worked diligently over the last year to reposition its focus solely on alternative asset management with Jason as the Executive Chairman of the Board. The appointment of Jason as CEO is the natural culmination of our repositioning efforts.” Jason Reese stated, “I want to take the opportunity to thank Pete Reed for his service and contributions to Great Elm. Pete steps down with our full support, and...