This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

MCG Capital Board Of Directors Names Richard W. Neu Chief Executive Officer And B. Hagen Saville President And Chief Operating Officer And Announces Preliminary Third Quarter Results And Dividend

Stocks in this article: MCGC

MCG Capital Corporation (Nasdaq: MCGC) ("MCG" or the "Company") today announced that Richard W. Neu, 55, Chairman of the MCG Board, has been elected as Chief Executive Officer. Mr. Neu succeeds Steven F. Tunney, Sr. who left the Company in order to pursue other interests. The Company also announced the promotion of B. Hagen Saville, currently the Company's Executive Vice President of Business Development, to the position of President and Chief Operating Officer.

Mr. Neu said, "On behalf of the Board, I would like to thank Steve for his leadership, hard work, and devotion to the Company. Beginning at the time that MCG was founded, and continuing through periods of severe economic crisis, Steve has tirelessly sought to create value for our shareholders and to promote the best interests of the Company. I personally look forward to the opportunity to seek to do the same. We wish him success and the best of luck in his future endeavors. We are excited to also recognize Hagen's contributions to the Company in his capacity as our primary investment officer, a role he will continue to fill in addition to his new responsibilities as President and Chief Operating Officer. His deep knowledge of our market, level of engagement and strong relationships with the management teams of our portfolio companies, and connections with our investor base should benefit both the Company and our stockholders." In closing, Mr. Neu stated that "Hagen and I are truly excited to have the opportunity presented to us by our stockholders and the MCG Board of Directors to further our strategy to maximize shareholder value. We expect that this value will be created through the payment of a competitive dividend, a tax efficient staple of the BDC business model, and continued efforts to close the gap between our stock price and net asset value."

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,908.70 +103.90 0.58%
S&P 500 2,074.84 +4.19 0.20%
NASDAQ 4,776.60 +11.22 0.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs