– CANADA, Calgary – Founders Advantage Capital Corp. (TSX:FCF) today announced that James Bell has been appointed as President and Chief Executive Officer of the Corporation. Mr. Bell is an experienced corporate securities lawyer and has been with the Corporation since April, 2016, in various executive positions. Ron Gratton, an independent Board member, will replace Mr. Bell as Interim Chief Financial Officer of the Corporation while the Corporation considers its alternatives for that role.
Mr. Bell replaces Stephen Reid who was the President and CEO of FA Capital since February, 2016. The Corporation and Mr. Reid reached a mutual agreement for his departure as an executive officer of the Corporation as Mr. Reid continues to be motivated to see FA Capital succeed going forward and for the market to recognize the value of the Corporation’s portfolio. Mr. Reid and the Board of Directors agreed that a change in executive management is in the best interest for all FA Capital shareholders.
J.R. Kingsley Ward, Chairman of the Corporation commented: “We would like to sincerely thank Stephen for his contributions to the Corporation over the last three years. Stephen has a unique talent to source and complete transactions with not-for-sale private companies and we would like to recognize Stephen’s key role in founding FA Capital, developing our unique investment structure and completing our four acquisitions. Stephen’s commitment and dedication to FA Capital has been exemplary and we wish him well in his future endeavours.”
James Bell, President and Chief Executive Officer commented: “I’m honoured that the Board has tasked me with writing the next chapter in the FA Capital story. We continue to believe in the fundamental value of our assets and the capabilities of our team at head office and at our great portfolio companies. We look forward to running a lean public company that enables us to showcase the financial performance and underlying value of our portfolio companies.”
For more information : http://advantagecapital.ca
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