General American Investors Company Announces Appointment of Sarah M. Ward to Board of Directors

NEW YORK--(BUSINESS WIRE)--The Board of Directors of General American Investors Company, Inc. (NYSE symbol – GAM), a closed-end management investment company, reported that Sarah M. Ward, an experienced attorney and financial services industry leader, has been appointed to the Board of Directors of the Company. Mr. Spencer Davidson, Chairman of the Company, commented, “We are pleased to welcome Ms. Ward to our Board given her breadth of experience as a senior partner at Skadden, Arps, Slate, Meagher & Flom LLP and service on numerous Boards of Directors.” Ms. Ward retired from Skadden in December 2021 and currently serves on the boards of CI Financial, Corient, Loblolly Inc., and the Settlement Housing Fund. She is a graduate of Princeton University and received her Doctor of Law degree from Fordham University School of Law.

General American Investors was founded in 1927, has been publicly traded since its inception and has been listed on the NYSE since 1930. The objective of the Company is long-term capital appreciation through investment in companies with above average growth potential. The Company has total net assets of approximately $1.5 billion applicable to its 23.3 million shares of common stock outstanding. The aggregate liquidation value of the Company’s preferred stock is $190 million (NYSE symbol – GAM Pr B).