Valuation Research Corporation (VRC) is pleased to announce that John Czapla has been appointed chairman of the board, effective as of Jan. 1, 2020.
Czapla succeeds Neil Kelly, who will continue serving on the board as vice chairman. Kelly has been and will continue to act as a trusted advisor to a client base he has developed in over 30 years of service; he first accepted the role of chairman in 2001 and has been with the firm since 1988. Kelly’s professional expertise includes providing fairness and solvency opinions as well as conducting business valuations, purchase price allocations, and appraisals of intangible assets.
Czapla is a proven leader within the company, having joined the firm in 1999. He helped build VRC’s Portfolio Securities Valuation Practice Group into one of the company’s leading practices. The group focuses on valuations for all types of hard-to-value illiquid or non-marketable securities, including Level 3 securities, loans, bonds, and equity and structured products. Czapla has been a member of VRC’s board of directors since 2009.
PJ Patel, co-CEO, said, “VRC and its board convey sincere gratitude to Neil for his leadership and expertise as chairman. He made an important impact on the firm’s culture and its “client first” approach and solidified VRC’s core values of honesty and integrity in all we do for our clients and the valuation profession. He is a great asset to the firm, and we are pleased that he will continue his dedication to our clients.”
“With the election of John Czapla as succeeding chairman, the board has appointed someone whose professionalism and strategic vision for continued growth aligns with the board’s values,” noted co-CEO Justin Johnson. “This organizational realignment represents our structured and strategic approach for meeting opportunities ahead for the firm and the professional valuation services industry. John’s leadership will seamlessly follow Neil’s, and he offers a wide breadth of skills, which complements an already strong board.”
Of his appointment, John Czapla today said: “There are significant strategic opportunities ahead for VRC, and I look forward to supporting my fellow board members in this higher capacity as we pursue them. Along with this enhanced board role, I will continue to serve clients and lead the day-to-day efforts of the Portfolio Securities Valuation Practice, together with several experienced managing directors and senior vice presidents in the group.”