George "Chip" Stelljes Iii Intention to Resign as Officer and Director of Gladstone Investment Corporation, Gladstone Capital Corporation and Gladstone Commercial Corp
November 28, 2012 at 05:06 pm EST
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Gladstone Investment Corporation, Gladstone Capital Corporation and Gladstone Commercial Corp. announced that Mr. George "Chip" Stelljes III notified the management of the Gladstone companies of his intention to resign as an officer and director of each of the funds to devote his efforts to creating and managing new investment vehicles for the Gladstone family of companies. No effective date for the resignations have been set but the transition should commence in the very near future.
Mr. Stelljes currently serves as a director and an officer of each of the Gladstone Funds. Mr. Stelljes serves as co-vice chairman, chief investment officer and assistant secretary of Gladstone Investment, co-vice chairman, chief investment officer and assistant secretary of Gladstone Commercial, and president, chief investment officer and assistant secretary of Gladstone Capital. Mr. Stelljes was succeeded as the president of Gladstone Commercial by the current president, Robert Cutlip.
After Mr. Stelljes steps down from the Gladstone Funds, he will continue to perform his duties as an officer and director of Gladstone Management. In maintaining his position at Gladstone Management, Mr. Stelljes will primarily devote most of his time to new initiatives but will be available to assist in the management of the funds' portfolio companies, as needed.
Gladstone Commercial Corporation is a real estate investment trust (REIT). The Company is focused on acquiring, owning and operating net leased industrial and office properties across the United States. It conducts its operations through a subsidiary, Gladstone Commercial Limited Partnership (Operating Partnership). It owns about 133 properties totaling 16.84 million square feet of rentable space, located in 27 states. Its properties are geographically diversified, and its tenants cover a broad cross section of business sectors and range in size from small to large private and public companies. Its properties are located in various states of the United States, such as Texas, Florida, Pennsylvania, Ohio, Georgia, North Carolina, Alabama, New Jersey, Michigan and South Carolina. The Company's properties have tenants from various industries, such as telecommunications, diversified/conglomerate services, healthcare, automotive, banking, diversified/conglomerate manufacturing, and others.
George "Chip" Stelljes Iii Intention to Resign as Officer and Director of Gladstone Investment Corporation, Gladstone Capital Corporation and Gladstone Commercial Corp