David H. Lesser - Chairman & CEO
Mr. Lesser is Power REIT’s Chairman and Chief Executive Officer. Mr. Lesser, whose career began in investment banking, has over 30 years of experience in real estate investment and finance. Mr. Lesser is currently, and has been for the past 25 years, president of Hudson Bay Partners, LP, an investment firm focused on real estate, real estate-related situations and alternative energy. Since October 2013, Mr. Lesser has served as Chairman and CEO of Millennium Acquisition Investment Company – formerly known as Millennium India Acquisition Company (ticker: MILC). Mr. Lesser has previously held leadership roles with public real-estate investment trusts (REITs), having served as a Senior Vice President of Crescent Real Estate Equities and as a Director of Keystone Property Trust. Mr. Lesser’s investment firm, Hudson Bay Partners, LP, sponsored the merger of two real estate companies into a small capitalization REIT (American Real Estate Investments) to ultimately form Keystone Property Trust which was listed on the American Stock Exchange (ticker: KTR). Prior to Crescent, Mr. Lesser was a Director in Merrill Lynch’s real-estate investment banking group. Mr. Lesser holds an M.B.A. from Cornell University and a B.S. in Applied Management and Economics from Cornell University.
Virgil E. Wenger, CPA - Trustee
Mr. Wenger, is currently, and has been for the past eight years, an independent consultant who primarily works with new start up ventures needing accounting services and financial planning assistance to determine investment and working capital needs. He also serves as chief financial officer for two private companies: Shareholder Intelligence Services, a provider of information to publically traded client companies of shareholder ownership, broker activity, and related analytics; and Econergy Corporation, a manufacturer and marketer of proprietary air conditioning systems. Mr. Wenger was previously a partner at Ernst & Young LLP. He is a graduate of the University of Kansas, with a B.S. in Business Administration and of the Harvard Business School Advanced Management Program. Mr. Wenger is the Chairman of our Audit Committee is a member of the Nominating Committee. Mr. Wenger is considered to be an independent trustee in accordance with the NYSE Company Guide.
William S. Susman - Trustee
Mr. Susman has 20 years of investment banking experience, including significant experience in the transportation and railroad industry. As the former head of Merrill Lynch’s Transportation and Consumer Group, Mr. Susman advised numerous railroad clients, including Burlington Northern, CSX, Kansas City Southern, Norfolk Southern Railways, TMM and Union Pacific. Mr. Susman is currently founder and CEO of a boutique investment advisory firm, Threadstone Advisors. Prior to founding Threadstone Advisors, he was President of Financo where he worked from 2004-2011. Financo is an investment bank focused on retail and consumer goods. Mr. Susman began his investment banking career at Salomon Brothers within their transportation group. Mr. Susman sits on the boards of two private companies: Major Brands and Jonathan Adler Enterprises. Mr. Susman is a graduate of the University of Michigan, with a B.S. in Business Administration and earned a Masters from the Kellogg Graduate School of Management at Northwestern. Mr. Susman is the Chairman of our Compensation Committee and is a member of the Nominating Committee. Mr. Susman is considered to be an independent trustee in accordance with the NYSE Company Guide.
Patrick R. Haynes III - Trustee
Mr. Haynes is currently a real estate investment consultant focused on commercial real estate acquisitions and development opportunities. Mr. Haynes was previously employed by the Rockefeller Group Investment Management Corp. (“RGIM”), where he was responsible for financial analysis, RGI’s corporate acquisitions, and institutional fundraising. Mr. Haynes began his career at Lehman Brothers in 2007 in the Real Estate Private Equity Group where he performed financial analysis, market research and due diligence for over $2.0 billion in potential real estate acquisitions across all asset classes nationally. Mr. Haynes also worked on the successful management buyout of Lehman’s equity funds’ advisory business, responsible for the management of approximately $18 billion in real estate assets globally. Mr. Haynes received a BA in U.S. History from Brown University. Mr. Haynes is a member of the Audit Committee and Compensation Committee, is the Chairman of Power REIT’s Nominating Committee and is considered to be an independent trustee in accordance with the NYSE Company Guide.
Justinian R. Hobor - Trustee
Justinian R. Hobor has served as a portfolio manager for Elk Lake, LLC since July 2017. Prior to his current position, Mr. Hobor was an investment advisor with Caldwell Securities, Inc. In addition, he co-founded in 2008 and serves as a managing member of Roundwood Capital, LLC, an investment partnership. Mr. Hobor’s focus is on small, illiquid companies going through atypical situations such as litigation, going-private transitions, and liquidations. Previously he worked at Capital Counsel, LLC, and at Northern Trust. Mr. Hobor is a graduate from Chicago-Kent where he received a Juris Doctor degree and from Shimer College where he received a B.A. in Social Sciences. Mr. Hobor is considered to be an independent trustee in accordance with the NYSE Company Guide.