Whitehorse Finance

Corporate Governance

Our business and affairs are managed under the direction of our Board of Directors. To fulfill its responsibilities, the Board of Directors follows the standards and procedures set forth in the below codes and charters. These codes and charters are subject to modification from time to time as the Board of Directors deems appropriate and as required by applicable laws and regulations.
Governance Documents
Code of EthicsDownload Corporate Governance Documentation
Code of ConductDownload Corporate Governance Documentation
Audit Committee CharterDownload Corporate Governance Documentation
Nominating and Corporate Governance Committee CharterDownload Corporate Governance Documentation
Compensation Committee CharterDownload Corporate Governance Documentation

Board of Directors

John Bolduc
Chairman of the Board

Mr. Bolduc is the Chairman of our Board. Mr. Bolduc is an Executive Managing Director of H.I.G. Capital, having joined the firm in 1993. Mr. Bolduc is responsible for leading H.I.G. Capital's credit platform, which manages approximately $9 billion of capital across multiple investment funds. He has more than 25 years of experience focused on credit investments, including primary loans and distressed debt, as well as private equity investments. Mr. Bolduc currently serves on the board of several privately held companies.

Prior to joining H.I.G. Capital in 1993, Mr. Bolduc was at the management-consulting firm of Bain & Company, a leading worldwide management-consulting firm, where he directed domestic and international assignments for Fortune 500 clients. Prior to joining Bain & Company, Mr. Bolduc worked for three years as the Assistant to the President of Chemed Corporation (NYSE: CHE), a specialty chemical company.

Mr. Bolduc is a graduate of Lehigh University with a B.S. degree in Computer Science and earned his M.B.A. from the University of Virginia's Darden School of Business


Jay Carvell
Director

Mr. Carvell is a Director and also serves as a Managing Director at an H.I.G. Capital-affiliated investment adviser. Prior to joining H.I.G. Capital, Mr. Carvell was a founding partner of WhiteHorse Capital Partners, L.P., a leading credit investor and manager of collateralized loan obligations. At WhiteHorse Capital Partners, Mr. Carvell co-managed portfolios of par and distressed loans across numerous industries and sectors through several market cycles. Mr. Carvell has over 15 years of experience in credit investment and management, including structuring and placement, trading and restructuring and reorganization. This experience branches across small-cap, mid-cap and broadly syndicated investments. Before founding WhiteHorse Capital Partners in 2003, Mr. Carvell held various positions with Highland Capital Management, L.P. and PricewaterhouseCoopers LLP.

Mr. Carvell earned both a B.A. and an M.B.A. from the University of Texas at Austin and holds the Chartered Financial Analyst designation. Mr. Carvell was selected to serve as a director on our board of directors due to his experience investing in credit instruments and managing WhiteHorse Capital Partners.


Rick D. Puckett
Independent Director

Mr. Puckett is a Director, Chairman of the Company's Audit Committee, and a member of the Nominating and Corporate Governance Committee and the Compensation Committee. He has served as Executive Vice President, Chief Financial Officer and Treasurer of Snyder's-Lance, Inc. since December 2010 and served as Executive Vice President, Chief Financial Officer and Treasurer of Lance, Inc. from 2006 to December 2010. Prior to joining Lance, Inc., Mr. Puckett served as Executive Vice President, Chief Financial Officer, Secretary and Treasurer of United Natural Foods, Inc., a wholesale distributor of natural and organic products, from 2005 to January 2006 and as Senior Vice President, Chief Financial Officer and Treasurer of United Natural Foods, Inc. from 2003 to 2005.

Mr. Puckett earned both his B.S. in Accounting and his M.B.A. from the University of Kentucky and is a Certified Public Accountant.


Stacy Smith
Independent Director

Mr. Smith is a Director, Chairman of the Company’s Compensation Committee, and a member of the Audit Committee and the Nominating and Corporate Governance Committee. He currently serves on the board of directors of Independent Bank Group, a bank holding company, to which he was elected in February 2013. Mr. Smith co-founded in February 2012 and remains a partner of Trinity Investment Group, a firm which invests in private equity transactions, public equity securities and other assets.  Since 2012, he has also served as a partner of SCW Capital, LP, a private equity hedge fund focused on the financial and energy sectors.  In 1997, Mr. Smith co-founded Walker Smith Capital, a Dallas-based small- and mid-cap equity hedge fund, where he was a partner and served as a portfolio manager until December 2013.  Mr. Smith serves on the board of directors of the Cotton Bowl.

Mr. Smith received a Bachelor of Business Administration in Finance and Accounting from the University of Texas at Austin in 1990.


Rick P. Frier
Independent Director

Mr. Frier has served as a director since August 2016. He currently serves on the board of directors of Affinion Group, Inc., where he is the Chairman of the Audit Committee and serves on the Compensation Committee, which he was elected in November 2015. He is currently the Chairman of the Board for Exal Corporation, which he was elected in December 2016. Prior to this position, from April 2013 until January 2015 Mr. Frier was the Executive Vice President & Chief Financial Officer of Chiquita Brands International, Inc. Before his position with Chiquita Brands, from March 2005 until October 2012 Mr. Frier served as the Executive Vice President & Chief Financial Officer of Catalina Marketing Corporation and Board Director. Mr. Frier received a Bachelor of Science in Business Administration from the University of Southern California, and an M.B.A. from the Claremont Graduate University.


Committee Composition

Below is a summary of our committee structure and membership information. To read more about any of the committees, click on committee names in the chart below.
Chairperson Chairperson Committee Member Member Financial Expert Financial Expert
 Audit Committee CharterNominating and Corporate Governance Committee CharterCompensation Committee
Outside Directors
Rick P. Frier 
Rick P. Frier
Independent Director


Mr. Frier has served as a director since August 2016. He currently serves on the board of directors of Affinion Group, Inc., where he is the Chairman of the Audit Committee and serves on the Compensation Committee, which he was elected in November 2015. He is currently the Chairman of the Board for Exal Corporation, which he was elected in December 2016. Prior to this position, from April 2013 until January 2015 Mr. Frier was the Executive Vice President & Chief Financial Officer of Chiquita... 

Committee Member Committee Member Chairperson
Rick D. Puckett Financial Expert
Rick D. Puckett
Independent Director


Mr. Puckett is a Director, Chairman of the Company's Audit Committee, and a member of the Nominating and Corporate Governance Committee and the Compensation Committee. He has served as Executive Vice President, Chief Financial Officer and Treasurer of Snyder's-Lance, Inc. since December 2010 and served as Executive Vice President, Chief Financial Officer and Treasurer of Lance, Inc. from 2006 to December 2010. Prior to joining Lance, Inc., Mr. Puckett served as Executive Vice President, Chief... 

Chairperson Committee Member Committee Member
Stacy Smith 
Stacy Smith
Independent Director


Mr. Smith is a Director, Chairman of the Company’s Compensation Committee, and a member of the Audit Committee and the Nominating and Corporate Governance Committee. He currently serves on the board of directors of Independent Bank Group, a bank holding company, to which he was elected in February 2013. Mr. Smith co-founded in February 2012 and remains a partner of Trinity Investment Group, a firm which invests in private equity transactions, public equity securities and other assets.  ... 

Committee Member Chairperson Committee Member