Crescent Capital BDC updates board leadership
Crescent Capital BDC, Inc. reported board changes.
Rhea-AI Filing Summary
Crescent Capital BDC, Inc. reported board changes. Effective May 5, 2026, the board accepted the resignation of Class III director Elizabeth Ko, who stated her decision was not due to any disagreement with management, the board, or company operations.
Effective May 7, 2026, the board elected Chief Executive Officer Jason Breaux and President Henry Chung as Class III directors, whose terms run until the 2027 annual meeting or until successors are elected and qualified. Breaux will serve as Chairman of the Board. Neither Breaux nor Chung will receive compensation or equity awards for board service, and both will continue in their existing executive roles.
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8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Director resignation effective date: May 5, 2026
New director election date: May 7, 2026
Notes due: 5.00% Notes due 2026
+1 more
4 metrics
Director resignation effective date
May 5, 2026
Effective resignation date of Class III director Elizabeth Ko
New director election date
May 7, 2026
Effective election date for Jason Breaux and Henry Chung as Class III directors
Notes due
5.00% Notes due 2026
Debt security listed as registered under Section 12(b)
Par value per share
$0.001 per share
Par value of Crescent Capital BDC common stock
Key Terms
Class III director, Chairman of the Board, investment committee, Emerging growth company, +1 more
5 terms
Class III director financial
"the Board elected Mr. Jason Breaux as a Class III director, which is the class of directors that will stand for election at the Company’s 2027 Annual Meeting"
A Class III director is a board member placed in one of the numbered groups used by companies with a staggered (or “classified”) board; that director’s seat typically comes up for election in the third year of a three-year rotation. For investors this matters because staggered terms create continuity but also make it harder to replace the whole board quickly, affecting shareholder influence, takeover dynamics and how fast new strategy or accountability can be implemented — like replacing only some players on a sports team each season instead of the whole roster at once.
Chairman of the Board financial
"Mr. Breaux, who will serve as Chairman of the Board, will not receive any compensation or equity awards"
Chairman of the board is the person who leads a company’s board of directors, setting meeting agendas, guiding discussions and ensuring the board supervises management’s strategy and risk decisions. Investors care because the chair’s leadership and style influence how well shareholder interests are protected, how quickly strategic choices are made, and the company’s overall accountability—like a team captain shaping group performance.
investment committee financial
"Mr. Breaux also serves as Chairman of the investment committee of the Company’s investment adviser"
An investment committee is a small group of experienced people who set the rules and make the key decisions about what investments to buy, hold, or sell for a fund, pension, or portfolio. Think of them as the steering team that balances goals, potential returns and risk—their choices shape how much money investors are likely to gain or lose and provide consistent oversight so decisions aren’t made impulsively.
Emerging growth company regulatory
"Emerging growth company Item 5.02 Departure of Directors or Certain Officers"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
Annual Meeting of Stockholders financial
"which is the class of directors that will stand for election at the Company’s 2027 Annual Meeting of Stockholders"
FAQ
What board changes did Crescent Capital BDC (CCAP) announce in this 8-K?
Crescent Capital BDC announced that Class III director Elizabeth Ko resigned effective May 5, 2026. On May 7, 2026, the board elected CEO Jason Breaux and President Henry Chung as Class III directors, with Breaux also becoming Chairman of the Board.
Why did Elizabeth Ko resign from Crescent Capital BDC’s board?
Elizabeth Ko resigned as a Class III director effective May 5, 2026. The company states her decision was not due to any disagreement with management, the board, or the company’s operations, policies, or practices, indicating a non-contentious departure from the board.
What roles will Jason Breaux hold at Crescent Capital BDC after this filing?
Jason Breaux will serve as both Chief Executive Officer and Chairman of the Board, and as a Class III director. He also remains Chairman of the investment committee of the company’s adviser and continues his Managing Director and Head of Private Credit role at Crescent Capital Group LP.
What is Henry Chung’s new position at Crescent Capital BDC?
Henry Chung has been elected a Class III director effective May 7, 2026, while continuing as President of Crescent Capital BDC. He will not receive compensation or equity awards for board service and also continues as a Managing Director at Crescent focusing on private credit.
Will Crescent Capital BDC’s new directors receive additional compensation?
The filing states that both Jason Breaux and Henry Chung will not receive any compensation or equity awards for their service as directors. They continue in their existing executive roles at Crescent Capital BDC without incremental board-related pay under this change.
AI-generated analysis. How Rhea-AI works. Not financial advice.
