Founder David Gladstone has stepped down as CEO effective immediately, retaining his role as Chairman and continuing as CEO of Gladstone Management Corporation. President David Dullum takes over as CEO, and twenty-year veteran John Sateri is appointed Chief Investment Officer. Senior managing directors Erika Highland and Christopher Lee are elevated to Executive Vice Presidents.

Erika Highland, after two decades at the firm and multiple portfolio successes, will assume the President role on October 1, 2026, succeeding David Dullum. These promotions are part of a structured plan to cultivate internal leadership talent and ensure seamless transitions in key executive roles.

The Board developed this comprehensive succession plan to secure long-term continuity, reinforce governance by separating the Chairman and CEO roles, and align leadership with the firm’s growth strategy. The realignment underscores board confidence in the existing management team’s ability to guide the company.

Since its IPO in 2005, Gladstone Investment Corporation has grown its portfolio to over $1.2 billion in assets, focusing on secured debt and equity investments in lower middle market U.S. businesses. The firm’s business development company structure supports acquisitions, changes in control, and recapitalizations.