Barings BDC, Inc. (NYSE:BBDC), a business development company, announced the upcoming departure of its Chief Accounting Officer, Michael DeSieno, on Monday. DeSieno will resign from his position effective at the close of business on March 21, 2024, to pursue other business opportunities. Following his departure, Elizabeth Murray, currently the Chief Financial Officer and Chief Operating Officer of Barings BDC, will take over the role of principal accounting officer.
The transition comes as DeSieno decided to step down after serving in his role as the company's accounting lead. The company did not provide further details about DeSieno's future plans or the reasons for his resignation beyond his intent to explore new business opportunities.
Elizabeth Murray, who will be assuming the additional responsibilities, has been with Barings BDC for an unspecified period and currently holds two key executive positions. Her expanded role is expected to maintain continuity in the company's financial operations following DeSieno's exit.
Barings BDC has not announced any further changes to its management team or mentioned if it will be seeking a new Chief Accounting Officer in the future. The company's brief statement on the matter did not elaborate on the implications of this management change for its operations or financial strategies.
Investors and stakeholders of Barings BDC are advised to note this executive change as part of the company's ongoing corporate developments. The information regarding this transition is based on a press release statement from the company's SEC filing.
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