Kingsway Financial names Adam Patinkin as board chairman

Kingsway Financial Services Inc. (NYSE: KFS) announced that its board of directors elected Adam J. Patinkin as chairman of the board. Terence M. Kavanagh, who served as chairman for the past 12 years, will remain on the board as vice-chairman.

Patinkin is the founder and managing partner of David Capital Partners, a Chicago-based alternative investment firm with offices in London. He previously worked on the investment team at Sheffield Asset Management, a long/short equity hedge fund manager. Patinkin holds the Chartered Financial Analyst designation and earned a bachelor's degree from Dartmouth College with a double-major in History and Government.

The leadership transition comes as Kingsway operates as what it describes as the only publicly-traded US company employing the Search Fund model to acquire and build businesses. The company owns and operates B2B and B2C services companies.

"I am honored to have been asked by the Board to serve as Chairman," Patinkin said in a statement. "Kingsway has built a unique and compelling platform to acquire and scale outstanding businesses."

Kavanagh commented on the transition, stating: "I believe this is the right moment to pass the baton to Adam. His energy, work ethic, and hands-on approach make him exceptionally well-suited to lead the Board as Kingsway enters its next phase of growth."

JT Fitzgerald, Kingsway's president and CEO, expressed gratitude for Kavanagh's leadership during what he called "a remarkable period of transformation" for the company.

The information was disclosed in a company press release.

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