MCG Capital Board of Directors Names B. Hagen CEO
MCG Capital Corporation (Nasdaq: MCGC) (“MCG” or the “Company”) announced today that on October 26, 2012 B. Hagen Saville, 51, has been elected as President and Chief Executive Officer effective as of November 1, 2012. Mr. Saville succeeds Richard W. Neu, who will remain as Chair of the Company's Board of Directors. In addition, to facilitate a reduction in the size of the Board of Directors and consistent with MCG's cost reduction efforts, Board members A. Hugh Ewing, III and Wallace B. Millner, III have tendered their resignations effective December 31, 2012, at which point the Board will be reduced from seven members to five. In addition to his current role as chair of the investment and valuation committee, Mr. Millner served as Chair of the Board from November 2002 to February 2005 and from 1998 through May 2001 and as a chair of the audit committee. Since joining the Board in 2007, Mr. Ewing has served on various committees, and now serves on each of the audit, compensation, nominating and corporate governance and investment and valuation committees.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.