Valuation Research Corporation has named PJ Patel to the position of co-CEO. Mr. Patel will begin in his new position on January 1, 2014.
“PJ Patel’s outstanding technical skills, sterling reputation in the valuation industry, national contacts, and proven leadership put him in an excellent position to assume the co-CEO role,” said Neil Kelly, chairman of VRC.
Mr. Patel specializes in addressing sophisticated financial valuation reporting issues for private equity and corporate clients. In addition, he has excelled helping clients address tax and accounting valuation issues related to large multinational corporate acquisitions. He is a frequent presenter and serves on numerous industry panels and task forces on valuation issues.
Mr. Patel is a member of the Appraisal Issues Task Force, a voluntary group of professional appraisers who wish to improve the practice of valuation. The Task Force works with the FASB and the SEC to evaluate valuation proposals and recommend methodology, assumptions and approaches. He is also a member of the Appraisal Foundation’s Working Group that prepared the industry practice aid for valuing customer-related assets. He holds the designations of chartered financial analyst (CFA) and accredited senior appraiser (ASA).
Mark Brattebo, who served as co-CEO with William Hughes since 2001, will step down from day-to-day management, but will continue to serve his existing clients, assist with the transition and remain on VRC’s Board. Mr. Hughes will continue to serve with Mr. Patel as co-CEO.
“Mark Brattebo helped significantly grow our company from a financial and organizational perspective over his 12-year tenure as co-CEO. He also made numerous contributions mentoring employees and building lasting client relationships during his nearly 30 years with VRC,” said Mr. Kelly. “While his leadership will be missed, he has been a strong advocate for progressive leadership change at our organization. He felt the time was now for the transition given the strength of VRC’s platform and because there is a new generation of professionals who are well positioned to lead VRC. We are grateful for his continued involvement in our organization as a professional and board member.”
VRC furnishes expert and independent opinions of value for solvency, fairness, business enterprises, intangible assets, capital stock, equity interests, real estate, and fixed assets. VRC has provided valuations worldwide since 1975. VRC has locations in Boston, Chicago, Cincinnati, Milwaukee, New York, Pittsburgh, Princeton, San Francisco, and Tampa; as well as international affiliates in Argentina, Australia, Brazil, Canada, China, Germany, Luxembourg, Mexico, Portugal, Spain, and the United Kingdom (www.valuationresearch.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 12-11-13