CEO Todd Owens and CIO Ivelin Dimitrov will step down, effective January 2.
Patrick Dalton has been selected to replace Owens. Dalton comes over from Gordon Brothers Finance, where he was CEO and chair of the Investment Committee from 2012-2016. Prior to that he was COO at Apollo Investment.
Dalton will also join Fifth Street Asset Management (NASDAQ:FSAM) as co-president, also succeeding the exiting Owens.
Shares are inactive premarket, but were down 1% after hours last night to $5.84.