Elah Holdings, Inc. Announces Update to Board of Directors
Elah Holdings (OTC:ELLH) announced the appointment of Richard A. Shapiro as a Class I director on May 3, 2022, following the resignation of Brian Laibow on May 6, 2022, due to other commitments. Shapiro, with a strong background in investment management, including roles at Millennium Management and Wexford Capital, is expected to assist the Board in assessing acquisition opportunities. The Board now comprises five independent members, reflecting Elah's strategy to pursue profitable acquisitions in the commercial and industrial sectors.
- Appointment of Richard A. Shapiro, adding expertise in investment management.
- Shapiro's experience may enhance the company's acquisition strategy.
- Brian Laibow's departure could create a gap in Board continuity given his tenure since May 2018.
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Richard A. Shapiro Appointed to Board; Brian Laibow Departs
DALLAS, May 9, 2022 /PRNewswire/ -- Elah Holdings, Inc. (OTC:ELLH) announced today the appointment of new independent director and the resignation of an existing member.
Richard A. Shapiro has been appointed as a Class I director to the Elah Holdings Board of Directors, effective May 3, 2022. Mr. Shapiro has an almost three decade career in investment management and is currently the Founder and Chief Investment Officer of Ridge Run Partners, LLC. Formerly, he was a Managing Director of Millennium Management LLC and a Partner, Portfolio Manager and Co-Head of Equities at Wexford Capital LP. From 2015 – 2020, he served on the board of directors of BBQ Holdings, Inc. (Nasdaq: BBQ), including as Compensation Committee chair and a member of the Nominating & Governance Committee.
Brian Laibow has resigned from the Board, effective May 6, 2022, in light of his other professional obligations. Mr. Laibow, Managing Director and Co-Head of North America for the Global Opportunities strategy at Oaktree Capital Management, L.P. ("Oaktree"), has served on Elah Holdings' Board since May 2018 as a Class III director.
"Elah is excited to welcome Rich to the Board, and we look forward to his assistance in assessing potential acquisition candidates," said Clark Webb, Chairman of the Board. "At the same time, we thank Brian for his contributions to the Board and his years of service to Elah. He and Oaktree have been wonderful partners."
As a result of these changes, the Company's Board is comprised of five members, all of whom are independent.
More biographical information on biographical can be found at www.elahholdings.com under the Directors section of the website.
About Elah Holdings
Elah Holdings, Inc. is a holding company led by experienced business leaders that is seeking to acquire profitable businesses in the commercial and industrial markets to generate sustainable profitability and cash flows, unlock the value of our considerable tax assets, and use creative deal structures that reduce risk and ultimately create long-term value for our shareholders. For more information, visit www.elahholdings.com. Elah Holdings' stock trades on the OTC Pink Market, which is operated by OTC Markets Group, a centralized electronic quotation service for over-the-counter securities under the symbol "ELLH."
Contact:
Michael Hobey
Elah Holdings, Inc.
+1 (805) 435-1255
@elah_inc
www.linkedin.com/company/elah-holdings-inc/
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SOURCE Elah Holdings, Inc.
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