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March 20, 2013 /PRNewswire/ -- The Boards of Directors of The Adams Express Company (NYSE:ADX) and Petroleum & Resources Corporation (NYSE: PEO) have selected
Kathleen T. McGahran to serve as the Chairperson of the Boards of Directors of both Companies, effective
March 19, 2013. Dr. McGahran is the first non-executive director to serve as Board Chairperson.
Dr. McGahran has been a member of the Companies' Boards of Directors since 2003. She is a Principal & Director of Pelham Associates, Inc., which designs and provides executive education programs to an impressive list of large financial, insurance, academic and media-related institutions. She also is an Adjunct Associate Professor at the Stern School of Business at
NYU, and formerly served as Associate Dean and Director of Executive Education and Associate Professor at
Columbia University, and as an Adjunct Associate Professor at the Tuck School of Business at
Dr. McGahran holds a Ph. D. in Accounting and Finance from
NYU, a Master's in Business Administration from
Iona College, and a J.D. from
Fordham University. She received her undergraduate degree from
Marymount College. She maintains her C.P.A. and is a member of the
New York and New Jersey Bars.
The Adams Express Company and Petroleum & Resources Corporation are
Baltimore-based closed-end funds that have been operating as investment companies since 1929. They are traded on the New York Stock Exchange and their symbols are ADX and PEO, respectively.
For further information, please contact
Lawrence L. Hooper, Jr., Vice President, General Counsel & Secretary410-752-5900 or 800-638-2479
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