Business Context and Reporting Period
This Form 8-K is a current report filed by Ares Commercial Real Estate Corporation on July 9, 2012. The filing primarily addresses corporate governance changes, specifically the appointment of a new Chief Financial Officer.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document is limited to personnel announcements and regulatory disclosures.
Material Changes
- Executive Appointment: Tae-Sik Yoon was appointed as Chief Financial Officer (CFO) effective July 9, 2012.
- Executive Departure: Richard S. Davis, who served as interim CFO, was replaced by Mr. Yoon.
Management Commentary and Background
Mr. Yoon brings over 19 years of experience in commercial real estate finance, investment banking, and legal matters. His recent background includes:
- Senior Vice President at Akridge, managing capital markets activities, fund development, and joint ventures.
- Managing Director and CFO at J.E. Robert Company, Inc., involved in private equity funds and the public REIT JER Investors Trust Inc.
- Previous roles in the real estate investment banking group at Morgan Stanley & Company and as an attorney at Williams & Connolly LLP.
A press release detailing this appointment was issued on the same date and is included as Exhibit 99.1.
Investor Verification Checklist
- Verify the official press release (Exhibit 99.1) for any additional details on Mr. Yoon's compensation or specific start date nuances.
- Review subsequent filings (e.g., 10-Q or 10-K) for the first financial results under the new CFO's tenure.
- Confirm if Richard S. Davis has departed the company entirely or moved to another role within the organization.