NEW YORK -- (Business Wire)
The Board of Directors of General American Investors Company, Inc., a
closed-end investment company listed on the New York Stock Exchange
(GAM), appointed Jeffrey W. Priest, President and Chief Executive
Officer of the Company, to the Board of Directors of the Company subject
to approval by shareholders at the upcoming Annual Meeting scheduled for
April 10, 2013. Mr. Davidson, Chairman, commented, “We are pleased to
welcome Mr. Priest to our Board. His in-depth knowledge of the financial
markets and investment industry as well as his broad understanding of
economic issues will be of great value to our Board.”
Separately, Ms. D. Ellen Shuman, a Director of the Company since July
2004 and Chairman of the Board’s Audit Committee, advised the Directors
that she would not seek re-election at the upcoming Annual Meeting. The
Board expressed its sincere gratitude to Ms. Shuman for her exemplary
service on the Board of Directors, her leadership as Chair of the Audit
Committee and her dedication to the Company’s shareholders.
General American Investors was founded in 1927, has been publicly traded
since its inception and has been listed on the NYSE since 1930. The
objective of the Company is long-term capital appreciation through
investment in companies with above average growth potential. The Company
has total net assets of approximately $1 billion applicable to its 29.6
million shares of common stock outstanding. The aggregate liquidation
value of the Company’s preferred stock is $190 million. Its preferred
shares (symbol GAM Pr B) are also listed on the NYSE.
General American Investors Company, Inc.
Eugene S. Stark,
Source: General American Investors Company, Inc.
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