GAMCO Will Benefit from Executive Decision to Waive Compensation from March 1, 2018 to December 31, 2018
February 23 2018 - 3:37PM
Business Wire
GAMCO Investors, Inc. (“GAMCO”) (NYSE:GBL) announced today that
its Chairman and CEO, Mr. Mario J. Gabelli, has elected to waive
all of his compensation that he would otherwise have been entitled
to for the period from March 1, 2018 to December 31, 2018.
No projection can be reasonably made as to what Mr. Gabelli
would have earned under his employment agreement for the period
from March 1, 2018 to December 31, 2018. We refer you to the 2017
Proxy for past full year variable compensation.
About GAMCO Investors, Inc.
GAMCO Investors, Inc., through its subsidiaries, manages
open-end funds and closed-end funds (Gabelli Funds, LLC) and
private advisory accounts (GAMCO Asset Management Inc.).
SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION
Our disclosure and analysis in this press release, which do not
present historical information, contain “forward-looking
statements” within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements convey
our current expectations or forecasts of future events. You can
identify these statements because they do not relate strictly to
historical or current facts. They use words such as “anticipate,”
“estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and
other words and terms of similar meaning. They also appear in any
discussion of future operating or financial performance. In
particular, these include statements relating to future actions,
future performance of our products, expenses, the outcome of any
legal proceedings, and financial results. Although we believe that
we are basing our expectations and beliefs on reasonable
assumptions within the bounds of what we currently know about our
business and operations, the economy, the effects of the Tax Cuts
and Jobs Act, and other conditions, there can be no assurance that
our actual results will not differ materially from what we expect
or believe. Therefore, you should proceed with caution in relying
on any of these forward-looking statements. They are neither
statements of historical fact nor guarantees or assurances of
future performance.
Forward-looking statements involve a number of known and unknown
risks, uncertainties and other important factors, some of which are
listed below, that are difficult to predict and could cause actual
results and outcomes to differ materially from any future results
or outcomes expressed or implied by such forward-looking
statements. Some of the factors that could cause our actual results
to differ from our expectations or beliefs include a decline in the
securities markets that adversely affect our assets under
management, negative performance of our products, the failure to
perform as required under our investment management agreements, a
general downturn in the economy that negatively impacts our
operations, and the ongoing impacts of the Tax Cuts and Jobs Act
with respect to tax rates and the non-deductibility of certain
portions of NEO compensation. We also direct your attention to the
more specific discussions of these and other risks, uncertainties
and other important factors contained in our Form 10-K and other
public filings. Other factors that could cause our actual results
to differ may emerge from time to time, and it is not possible for
us to predict all of them. We do not undertake to update publicly
any forward-looking statements if we subsequently learn that we are
unlikely to achieve our expectations whether as a result of new
information, future developments or otherwise, except as may be
required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20180223005768/en/
GAMCO Investors, Inc.Kieran Caterina or Diane M. LaPointeSVPs
and Co-Chief Accounting Officers914-921-5149 or 7763orFor further
information please visitwww.gabelli.com
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