Board of Directors
Erland E. Kailbourne
Chairman of the Board
Erland E. Kailbourne became a Director of Rand in 1999. Mr. Kailbourne was named Chairman of the Board of Albany International, Inc. (NYSE: AIN) in January 2020. He has been a Director of Albany International, since 1999 and also served as its Chairman of the Board from May 2008 until February 2019. From January 2006 until May 2010, he served as Chairman of Financial Institutions, Inc. (Nasdaq: FISI) and its subsidiary, Five Star Bank. In 1998, he retired as Chairman and Chief Executive Officer (New York Region) of Fleet National Bank, a banking subsidiary of Fleet Financial Group, Inc., a position he held since 1993.
Robert M. Zak
Robert M. Zak became a Director of Rand in 2005. Since 1995, Mr. Zak has been President and Chief Executive Officer of Merchants Mutual Insurance Company, which operates under the trade name Merchants Insurance Group. He joined Merchants in 1985. Prior thereto, Mr. Zak’s career was in public accounting.
Allen F. “Pete” Grum
President and Chief Executive Officer
Pete Grum became a Rand Director when he joined the Company in 1996. He is a seasoned financial services executive with more than 20 years of experience with financial services organizations. He oversees the Company’s investment activities and takes an active role in the investment process from deal sourcing to fund marketing. He earned his Master of Business Administration from Rochester Institute of Technology and his Bachelor of Arts in Economics from Eisenhower College.
Adam S. Gusky
Adam Gusky is the Chief Investment Officer of EAM. EAM, formed in 2010, is dedicated to investing in private and public market securities and has formed multiple investment vehicles that provide capital to a variety of industries including energy, media, real estate, hospitality, sports and entertainment. EAM has developed a unique and proprietary network for sourcing investment opportunities, including opportunities in the private credit/current yield space, leveraging both its in-house and affiliated investment talent and capabilities. EAM is an entity owned by Terry and Kim Pegula, owners of Pegula Sports & Entertainment, the company streamlining key business areas across all Pegula family-owned sports and entertainment properties including the Buffalo Bills, Buffalo Sabres, Buffalo Bandits, Rochester Americans, Rochester Knighthawks, LECOM Harborcenter, Black River Entertainment, ADPRO Sports, PicSix Creative agency and numerous hospitality properties. Mr. Gusky has been with EAM since 2010. He is a graduate of Duke University (Class of 1997), where he was a scholarship tennis player and part of three ACC Championship teams. Mr. Gusky started his career at CNN/Sports Illustrated then moved to a small public wireless tower construction company (o2 Wireless). He then returned to Duke to coach the women’s tennis team while getting his MBA at Fuqua School of Business (Class of 2006). Adam lives with his wife, Ansley, and son in Delray Beach, FL.
Benjamin E. Godley
Ben Godley is the President of Greenough Communications, a marketing and public relations services firm. Previously, he was cofounder and CEO of Contributor Development Partnership (“CPD”), a public benefit corporation focused on improving the operational efficiency and revenue generation capacity of the public media system. Prior to that, Mr. Godley was the Chief Operating Officer of WGBH, a public media organization and Boston’s local NPR station, and President of WGBH Business Services, where he was responsible for business strategy, financial, and day-to-day operational management of the $240 million, 950 employee educational non-profit. Prior to joining WGBH, he was Senior Advisor/Deputy National Finance Director on Mitt Romney’s 2008 presidential campaign, and a member of the Governor’s senior staff as Director of Governmental Affairs for the Commonwealth. Earlier in his career, Mr. Godley co-founded and was President and CEO of CGN Marketing & Creative Services and also held marketing and management roles at Hill & Knowlton and IBM. Mr. Godley’s significant business experience across a range of industries provides invaluable expertise as a Director of Rand.