MCG Capital Corp. / MCGC
About MCG Capital Corp.
1100 Wilson Blvd., Suite 3000, Arlington, Va. 22209
www.mcgcapital.com
| 703-247-7500
| Founded: 1998
Industry: Financial Services | Category: Top 100 Companies
MCG Capital co-founder Bryan J. Mitchell resigned as chief executive and left the company in August and was succeeded by co-founder Steven F. Tunney. Tunney said a factor prompting Mitchell's departure was his failure to pay interest on personal loans made to him by the company. MCG fined Mitchell $25,000 for not paying interest on the loan, but it also paid him $1.5 million in severance when he left.
The company elected attorney Jeffrey M. Bucher, the audit committee chairman, as chairman of the board, replacing Kenneth J. O'Keefe, who remains on the panel.
The company also disclosed that some executives did not make timely reimbursements to MCG for withholding taxes paid on their behalf to the IRS. MCG said in a filing with the Securities & Exchange Commission that "certain violations of the Company's code of business conduct and ethics did occur."
MCG's investment portfolio grew 15 percent last year, to $1.3 billion, and profit rose 48 percent.
CEO and president: Steven F. Tunney
2007 Financial Data
Total employees: 86 | Local employees: 86Company Leadership
| Bryan J. Mitchell | Former CEO |
| Michael R. McDonnell | EVP, COO and CFO |
| Steven F. Tunney | President and CEO |
| B. Hagen Saville | EVP, business development |
| Robert L. Marcotte | SVP and managing director |
| Samuel G. Rubenstein | EVP and general counsel |
| Robert J. Merrick | EVP and chief investment officer |
Source: Compensation data provided by Equilar, Inc..
|
Samuel G. Rubenstein Executive Vice President, General Counsel and Corporate Secretary |
$3,566,419 Salary: $366,667 |
Did You Know
MCG Capital Corp. is a commercial finance company providing financing and advisory services to growing mid- size companies that have annual revenue of $20 million to $200 million. MCG is chartered as a business-development company, which means it pays out most of its profit to shareholders, so it qualifies for special tax breaks.
