Monroe Capital Names New CEO and CFO

Ticker: MRCC · Form: 8-K · Filed: Apr 5, 2024 · CIK: 1512931

Sentiment: neutral

Topics: executive-change, leadership-transition

TL;DR

Monroe Capital swaps CEO and CFO, Koenig out, Kenny and Glass in.

AI Summary

Monroe Capital Corporation announced on April 2, 2024, a series of executive changes. Effective April 2, 2024, Michael J. Kenny was appointed as Chief Executive Officer and President, succeeding Theodore L. Koenig. Additionally, James R. Glass was appointed as Chief Financial Officer, succeeding Mr. Kenny. These changes are part of the company's ongoing leadership transition.

Why It Matters

This leadership change at Monroe Capital could signal a shift in strategic direction or operational focus under new executive leadership.

Risk Assessment

Risk Level: medium — Leadership changes can introduce uncertainty regarding future strategy and performance.

Key Players & Entities

FAQ

Who has been appointed as the new Chief Executive Officer and President of Monroe Capital Corporation?

Michael J. Kenny has been appointed as the new Chief Executive Officer and President of Monroe Capital Corporation, effective April 2, 2024.

Who did Michael J. Kenny succeed as CEO and President?

Michael J. Kenny succeeded Theodore L. Koenig as Chief Executive Officer and President.

Who has been appointed as the new Chief Financial Officer?

James R. Glass has been appointed as the new Chief Financial Officer.

Who did James R. Glass succeed as CFO?

James R. Glass succeeded Michael J. Kenny as Chief Financial Officer.

What is the effective date of these executive changes?

The executive changes are effective as of April 2, 2024.

Filing Stats: 686 words · 3 min read · ~2 pages · Grade level 9.7 · Accepted 2024-04-05 17:16:03

Key Financial Figures

Filing Documents

02(b)

Item 5.02(b) On April 2, 2024, Jeffrey D. Steele and Jorde M. Nathan informed the Board of Directors (the "Board") of Monroe Capital Corporation (the "Company") of each of their intentions to step down from the Board following the conclusion of the current director service year. Mr. Steele will not stand for re-election as a Class III director at the Company's 2024 Annual Meeting of Stockholders (the "Annual Meeting"), which is expected to be held in June 2024, and Mr. Nathan will resign from the Board, effective as of the Annual Meeting. Mr. Nathan also will step down as a member of the Board's Nominating and Corporate Governance Committee and Compensation Committee at the same time. As such, the Board has determined to reduce the size of the Board from seven (7) to five (5) directors, effective as of the Annual Meeting. The Board expects to nominate one Class III director to stand for re-election at the Annual Meeting. Following the departure of Mr. Steele and Mr. Nathan from the Board, the Board will consist of two Class I directors, two Class II Directors, and one Class III director. The Board has appointed Thomas J. Allison to replace Mr. Nathan as a member of the Nominating and Corporate Governance Committee, and has appointed Jeffrey A. Golman to replace Mr. Nathan as a member of the Compensation Committee, effective as of the Annual Meeting. Mr. Steele has served on the Board since the Company's initial public offering in 2012, and Mr. Nathan has served on the Board since 2013. The Company appreciates and thanks Mr. Steele and Mr. Nathan for their service and commitment as directors and will continue to benefit from their perspectives and insights as directors until the Annual Meeting.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MONROE CAPITAL CORPORATION By: /s/ Lewis W. Solimene, Jr. Name: Lewis W. Solimene, Jr. Title: Chief Financial Officer and Chief Investment Officer Dated: April 5, 2024

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