Board of Directors

Peter A. Reed, Chief Executive Officer

Peter A. Reed is 38 years old and since September 2017 has been our Chief Executive Officer. Mr. Reed has been a member of our Board of Directors since May 2015. Mr. Reed is Chief Investment Officer of our Great Elm Capital Management, Inc. (GECM) subsidiary and President, Chief Executive Officer, and Chairman of the board of directors of Great Elm Capital Corp. (GECC). Mr. Reed is also currently a member of the board of directors of GECM, GECC GP Corp., Great Elm FM Acquisition, Inc. and Great Elm FM Holdings, Inc. Until September 2017, Mr. Reed was Portfolio Manager and Partner at MAST Capital, a Boston-based registered investment advisor. Prior to joining MAST Capital in 2004, Mr. Reed was an investment banking analyst at Brown, Gibbons, Lang & Company where he worked on mergers and acquisitions, in-court and out-of-court financial restructurings, and debt and equity private placements for middle market companies.

Mr. Reed brings to our Board of Directors knowledge of the investment management business, capital markets and corporate restructuring.

Matthew A. Drapkin is 45 years old and has been a member of our Board of Directors since April 2017. Mr. Drapkin is CEO & Portfolio Manager of Northern Right Capital, a value-oriented asset manager focused on constructive activist investing in small cap public companies.

Mr. Drapkin is currently on the board of directors of PRGX Global, a global provider of recovery audit services to retail and commercial clients. Mr. Drapkin previously served on the board of directors of Intevac, a publicly-traded provider of equipment solutions to the hard-disk drive industry and high-sensitivity imaging products, primarily for the defense market, as Chairman of the Board of Ruby Tuesday, a restaurant operator, Lead Independent Director of Hot Topic, a specialty retailer, and a director of Xura (formerly Comverse), a provider of telecommunications businesses solutions, Glu Mobile, a mobile gaming company, Plato Learning, a provider of curriculum management, and Alloy, a diversified media company.

Before joining Northern Right Capital Management in December 2009, Mr. Drapkin had extensive investment experience, including his work as head of research, special situations, and private equity at ENSO Capital, a New York-based hedge fund. From 2003 to 2008, Mr. Drapkin worked at MacAndrews & Forbes, participating in more than $3 billion of transactions, including Scientific Games, Deluxe Entertainment Services, AM General, and Scantron. Prior to MacAndrews, Mr. Drapkin served as general manager of two of Conde Nast publication’s wholly-owned Internet sites, Epicurious.com and Concierge.com, and headed Conde Nast’s internet venture investment effort. Mr. Drapkin began his career at Goldman, Sachs and Co.

Mr. Drapkin was elected to our Board of Directors as a result of the MAST Funds’ exercise of their rights to appoint two members of our Board of Directors under the MAST Fund Agreements.

Thomas S. Harbin III is 44 years old and has been a member of our Board of Directors since October 2017. Mr. Harbin co-founded Source Capital, LLC in 2002 and currently serves as its Managing Partner. Source Capital, through its affiliates and several committed funds, invests in both private equity and private debt transactions primarily in support of growing US-based companies in the lower-middle market. Mr. Harbin worked previously with J.H. Whitney & Co., a Connecticut-based private equity firm with over $5 billion in assets under management. He was the Head of Business Development for PowerBand Communications, a Whitney portfolio company located in Tokyo, Japan. Mr. Harbin also spent time in the Leveraged Finance group of Goldman, Sachs & Co. in New York.

Mr. Harbin brings to our Board of Directors investment expertise and extensive experience, including in leadership roles, in the private capital markets.

James P. Parmelee is 52 years old and has been a member of our Board of Directors since June 2017. Mr. Parmelee is a Managing Director of Hamilton Robinson Capital Partners, a private equity firm that invests in middle-market specialty manufacturing, industrial technology and business services companies in the U.S. and Canada. Mr. Parmelee currently serves on the Board of Directors of PNE LLC based in Longview, WA and GrayMatter Systems based in Pittsburgh, PA.

Mr. Parmelee is a former member of the Board of Directors of The Meet Group based in New Hope, PA. Previously, Mr. Parmelee was a Partner in Peak Ten Management, a long/short equity fund backed by Tiger Management LLC focused on investing in the global information technology sector. Mr. Parmelee was responsible for the firm’s investments in the software, IT infrastructure and Internet verticals. Prior to joining Peak Ten Management, Mr. Parmelee was a Partner in Union Square Advisors LLC, a strategic advisory firm. Mr. Parmelee led the firm’s global IT Infrastructure practice providing strategic and M&A advisory services to the firm’s clients. From 1992 to 2004, Mr. Parmelee was a senior equity research analyst responsible for coverage of the data networking and telecommunications equipment sectors, primarily at Credit Suisse First Boston where he was most recently a Managing Director and served as the Global Coordinator of Technology research for the firm.

Mr. Parmelee was elected to our Board of Directors as a result of the MAST Funds’ exercise of their rights to appoint two members of our Board of Directors under the MAST Fund Agreements.

Jeffrey S. Serota is 52 years old and has been a member of our Board of Directors since November 2016 and became our Chairman of the Board in September 2017. Mr. Serota is currently a Vice Chairman at Corbel Capital Partners, an alternative lower middle-market debt manager. Mr. Serota served as a Senior Partner and Senior Advisor at Ares Management LLC (Ares) from 1997 to 2013. While at Ares, Mr. Serota led investments in an array of security types and industries. Transaction structures included buyouts, recapitalizations, structured equity, minority interest, and distressed-for-control, among others. As part of his role as a Senior Partner at Ares, Mr. Serota acted as an Interim Chief Executive Officer for certain portfolio company investments of Ares, led fundraising efforts for private equity investment funds, participated in numerous private and public companies as a member of the board of directors, and assisted in the management of the private equity efforts at Ares. Before Ares, Mr. Serota served as a Vice President in the investment banking department at Bear, Stearns & Co. Inc. Prior to Bear Stearns, Mr. Serota was employed at Dabney/Resnick, Inc., where he specialized in merchant banking and capital raising activities for middle-market companies and had primary responsibility for Dabney/Resnick’s bridge financing activities. Mr. Serota was also employed at Salomon Brothers Inc., where he focused on mergers and acquisitions and merchant banking transactions.

Mr. Serota was previously Chairman of the Board of CIFC Corp. (CIFC), a $15 billion asset management firm specializing in non-investment grade credit products. Mr. Serota also served as the Chairman of SandRidge Energy, Inc. from June 2013 until October 2016 and as one of its independent director from March 2007 to October 2016. Mr. Serota has also served on numerous public and private company boards over his career. Public company boards included: Exco Resources, Lyondell Basell Inc., WCA Waste Corp. and Douglas Dynamics, Inc.

Mr. Serota brings to our Board of Directors over 25 years of experience as a principal investor, financial services professional, and operating executive.

Mark A. Snell is 62 years old and has been a member of our Board of Directors since December 2016. Mr. Snell was President of Sempra Energy, a San Diego-based Fortune 500 energy services holding company, from 2011 to March 2017. From 2006 to 2011, Mr. Snell was Executive Vice President and Chief Financial Officer of Sempra Energy. Previously, Mr. Snell was group President overseeing Sempra Energy’s businesses outside of the company’s two California utilities. Prior to that, he served as Chief Financial Officer of this group. Mr. Snell joined Sempra Energy in 2001 as Vice President of planning and development.

Previously, Mr. Snell was Executive Vice President and Chief Financial Officer for Earth Tech, a Long Beach, California-based water management, engineering and environmental services firm. Prior to that, he was Executive Vice President and Chief Financial Officer of Dames and Moore, an engineering and construction firm headquartered in Los Angeles. At Dames and Moore, he guided the completion of acquisitions that more than doubled the firm’s revenues. Mr. Snell also served as Chief Financial and Administrative Officer of Latham & Watkins. Preceding that, he was Executive Vice President and Chief Financial Officer of World Oil Corp., a privately held, integrated oil company. Mr. Snell began his career as an auditor and in acquisition support at KPMG Peat Marwick.

Mr. Snell brings to our Board of Directors experience leading businesses and in mergers and acquisitions, finance and accounting.

Hugh Steven Wilson is 70 years old and was Chairman of our Board of Directors from July 2016 to September 2017 and has been a member of our Board of Directors since January 2016. Mr. Wilson was a Managing Partner of Tennenbaum Capital Partners, LLC (TCP) from 2005 to 2012, where he is a member of its advisory board. Mr. Wilson served as Chief Executive Officer of four TCP affiliated registered investment companies. Mr. Wilson served as a Senior Partner at Latham & Watkins, where he was Global Co-Chairman of the Mergers and Acquisitions Practice Group and Chairman of the National Litigation Department. Mr. Wilson serves as Vice Chairman of Burford Capital Limited.

Mr. Wilson brings to our Board of Directors judgment accumulated over a forty-year career, expertise in the asset management business, with mergers and acquisitions, leveraged finance and legal matters.