RCS Capital Elects Lead Independent Director Mark Auerbach As Chairman

(RTTNews) - Full-service investment firm RCS Capital Corp. (RCAP) announced that its Board of Directors has elected Lead Independent Director Mark Auerbach to the role of Chairman, effective immediately. Auerbach succeeds Nicholas Schorsch, who has notified the Board of his decision to step down from his position as Director and Executive Chairman of the Board.

RCS Capital also announced William Kahane will resign from the RCS Capital Board of Directors, effective immediately.

As a result of these changes, the RCS Capital Board of Directors comprises six directors, four of whom are independent and all of whom bring to the Company significant industry, senior leadership and corporate governance experience.

These changes are further demonstration of RCS Capital's ongoing implementation of previously announced initiatives aimed at enhancing corporate governance.