Business Context and Reporting Period
This Form 8-K is a current report filed by Resource Capital Corp. (not ACRES Commercial Realty Corp.) on November 6, 2009. The filing addresses corporate governance changes, specifically the expansion of the Board of Directors and the appointment of new leadership.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Board Expansion: The Board of Directors was expanded to eight members.
- Leadership Appointment: Steven J. Kessler was elected to fill a vacancy and named Chairman of the Board.
- Continuity: Edward E. Cohen, the Company's Chairman since inception, will continue to serve on the Board.
- Background: Mr. Kessler has served as Senior Vice President - Finance since September 2005 and previously held the roles of Chief Financial Officer, Chief Accounting Officer, and Treasurer.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary on financial performance, risks, contingencies, or unusual items. The document references a press release (Exhibit 99.1) for further details but does not include the text of that release.
Investor Verification Checklist
- Verify the exact date of Steven J. Kessler's assumption of the Chairman role.
- Review the attached press release (Exhibit 99.1) for additional context on the leadership transition.
- Confirm the current composition of the Board of Directors following the expansion to eight members.
- Check subsequent filings for any financial impact related to this governance change.