Gladstone Investment Corporation (Nasdaq: GAIN) has announced the retirement of its Chief Operating Officer (COO), Terry Lee Brubaker, effective December 2, 2024. Following this announcement, Michael LiCalsi, the Company’s General Counsel and Secretary, will take on additional operational responsibilities. Moreover, Gladstone Management Corporation, the Company’s investment adviser, will be conducting a national search for a Chief Investment Officer to fill Mr. Brubaker’s investment committee responsibilities.
Under Mr. Brubaker's leadership, the company has experienced remarkable growth. As of the latest period, the company has been focusing on making secured debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control, and recapitalizations.
Chairman and Chief Executive Officer, David Gladstone, expressed his appreciation for Mr. Brubaker’s dedication and commitment to the company and its shareholders. The company has not disclosed specific financial metrics related to Mr. Brubaker's tenure or the impact of his retirement on the company's financials at this time.
For more information on the business activities of all the Gladstone funds, please visit www.gladstonecompanies.com. Today the company's shares have moved 1.5% to a price of $13.88. For more information, read the company's full 8-K submission here.
