180 Degree Capital Corp. Appoints Tonia L. Pankopf to Board of Directors
180 Degree Capital Corp. (NASDAQ:TURN) appointed Tonia L. Pankopf to its Board of Directors, replacing Charles E. Ramsey, who retired after 18 years. Pankopf brings 25 years of investment experience, including roles at Goldman Sachs and Merrill Lynch. Her expertise in capital market transactions and hedge fund management aligns with 180's goal to invest in undervalued small companies. The Board now consists of six members, four of whom are independent. The management views her addition as a strategic step to enhance growth and investment opportunities.
- Tonia L. Pankopf's extensive investment background may enhance strategic decision-making.
- The Board now has a strong independent representation with four out of six members.
- Expectations for increased capital raising and identification of attractive investments.
- Charles E. Ramsey's retirement may raise concerns about continuity after 18 years of service.
MONTCLAIR, N.J., Aug. 10, 2020 (GLOBE NEWSWIRE) -- 180 Degree Capital Corp. (NASDAQ:TURN) (“180” and the “Company”), today announced the appointment of Tonia L. Pankopf to its Board of Directors. With Ms. Pankopf’s appointment, 180’s Board has six members, four of whom are independent. Ms. Pankopf replaces Charles E. Ramsey, who retired from 180’s Board this year after 18 years of service.
Ms. Pankopf brings 25 years of investment experience in researching and valuing equity and debt corporate securities and managing capital market transactions for domestic and international public and private companies. She has held Vice President and Senior Equity Analyst positions at Goldman Sachs & Co and Merrill Lynch & Co. Further, Ms. Pankopf's experience includes hedge fund portfolio management at P.A.W. Capital Partners and Palladio Capital Management generating significant returns based on fundamental business, financial, accounting and valuation analyses. In recent years as managing partner of Pareto Advisors, Ms. Pankopf has provided capital investment and financial advisory services. Ms. Pankopf currently serves on the Board of Landec Corporation and has served on the Board of Oxford Square Capital Corp and the University System of Maryland Foundation. Ms. Pankopf is a Governance Fellow and member of the National Association of Corporate Directors. Ms. Pankopf holds a Master of Science from the London School of Economics.
“We are pleased to welcome Tonia L. Pankopf to 180’s Board of Directors,” said Kevin M. Rendino, Chairman and Chief Executive Officer of 180. “Our first three and a half years were focused on establishing 180 as a leading firm investing in microcapitalization public companies with a constructive activist approach. Tonia’s background and experience are perfectly suited to help us think strategically about the future of 180 and ways to build on this solid foundation.”
“We are excited to add a director with investment experience, who has also worked as a sell-side research analyst, to the Board of 180,” added Parker A. Weil, Chairman of the Nominating Committee of 180’s Board. “We believe she will aid our efforts to raise capital and identify attractive investment opportunities.”
“I am delighted to be joining the Board of 180, and to be working with Kevin Rendino, Daniel Wolfe, and the entire Board,” said Ms. Pankopf. “180’s strategy of identifying and creating value for small public companies and shareholders is consistent with a professional focus of mine. I look forward to contributing my investment experience to advance its growth and the execution of its strategy.”
About 180 Degree Capital Corp.
180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180-degree turn. Detailed information about 180 and its holdings can be found on its website at www.180degreecapital.com.
Press Contact:
Daniel B. Wolfe
180 Degree Capital Corp.
973-746-4500
Forward-Looking Statements
This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's securities filings filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference and link to the website www.180degreecapital.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release. 180 is not responsible for the contents of third-party websites.
FAQ
Who is Tonia L. Pankopf and what are her qualifications for 180 Degree Capital Corp. (TURN)?
What was the reason for Charles E. Ramsey's retirement from 180 Degree Capital Corp.'s Board?
How will Tonia L. Pankopf's appointment impact 180 Degree Capital Corp. (TURN)?
