Tri-Continental Corporation Brian J. Gallagher as Board of Directors
December 13, 2019 at 02:26 am IST
Share
The Board of Directors of Tri-Continental Corporation held a meeting at which its members considered and, thereafter, unanimously appointed Brian J. Gallagher to the Corporation’s Board. His service with the Board will commence on January 1, 2020, for a term expiring at the 2023 annual meeting of stockholders. Mr. Gallagher currently serves on the board of trustees of certain of the mutual funds within the Columbia Funds Complex (the Columbia Funds Board) and, effective January 1, 2020, on the board of another Columbia closed-end fund. Biographical information for Mr. Gallagher is included below. Effective December 31, 2019, Mr. Edward J. Boudreau, Jr., the Board’s current chairman is retiring from the Corporation’s and the other closed-endfund’s Board, as well as from the Columbia Funds Board, on which he also currently serves as chairman. Ms. Catherine James Paglia, who currently serves as a director on the Board, will take over as the chairman of the Board upon Mr. Boudreau’s retirement.
Tri-Continental Corporation (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to produce future growth of both capital and income while providing reasonable current income. It invests primarily for the longer term and has no charter restrictions with respect to its investments. With respect to the Fund's investments, assets may be held in cash or invested in all types of securities, that is, in common stocks, bonds, convertible bonds, debentures, notes, preferred and convertible preferred stocks, rights, and other securities or instruments. It may invest in debt/fixed income instruments and convertible securities that, at the time of purchase, are rated below investment grade or are unrated but determined to be of comparable quality. The Fund may invest in derivatives, such as futures contracts (including equity futures and index futures), to equitize cash. The Fund's manager is Columbia Management Investment Advisers, LLC.