Elah Holdings Inc fka RELYQ (ELLH)

[Enterprising Investor]

Real Industry Appoints Michael Hobey as Chief Financial Officer (9/15/16)

SHERMAN OAKS, Calif.--(BUSINESS WIRE)--Real Industry, Inc. (NASDAQ: RELY) (“Real Industry” or the “Company”) today announced that it has appointed Michael Hobey as Executive Vice President and Chief Financial Officer of the Company, succeeding Kyle Ross who had been appointed as President, Interim Chief Executive Officer and Chief Investment Officer on August 19, 2016.

Mr. Hobey, 43, has served as the Chief Financial Officer of the Company’s indirect wholly owned subsidiary, Real Alloy Holding, Inc., since the business’ acquisition in February 2015 and has more than ten years of industry experience in a variety of senior level financial positions.

Prior to joining Real Alloy, Mr. Hobey served as Chief Financial Officer of the predecessor entity known as Global Recycling & Specification Alloys at Aleris International, Inc. (“Aleris”). Mr. Hobey joined Aleris in June 2006, serving as Vice President, Corporate Development, through July 2009 when he was named Vice President and Treasurer.

Before joining Aleris, he served as Vice President in the Investment Banking Division at Citigroup Global Markets and held various positions with McDonnell Douglas and Boeing immediately following college. Mr. Hobey holds a Bachelor of Science degree from Brown University and an MBA from the MIT Sloan School of Management.

Mr. Ross, President, Interim Chief Executive Officer, and Chief Investment Officer, stated, “We are very pleased to promote Mike to the CFO position of Real Industry, and are confident that his knowledge of Real Alloy will ensure continuity in our operations and contribute to the Company’s future performance. We benefit from a strong finance and accounting team, which allows Mike to step into this new role without having an impact on Real Alloy and without the need to replace his prior position. Mike’s leadership was essential in the integration of Real Alloy following its acquisition, and he has shown strong strategic and value-added analyses which will transfer well into his role as CFO of Real Industry. In addition, his financial acumen and M&A experience with Aleris and as an investment banker will prove invaluable as we advance in our growth strategy through acquisitions, continue to execute our business plan and maximize the value of our unique tax assets.”

About Real Industry, Inc.

Real Industry is a North America-based holding company seeking to take significant ownership stakes in large, well-managed and consistently profitable businesses concentrated primarily in the United States industrial and commercial marketplace. Real Industry has significant capital resources, and U.S. federal net operating loss tax carryforwards of more than $870 million. For more information about Real Industry, visit its corporate website at www.realindustryinc.com.

http://www.businesswire.com/news/home/20160915006516/en/Real-Industry-Appoints-Michael-Hobey-Chief-Financial