Beneficient Appoints Peter T. Cangany Jr. as Chairman of the Board

Core Viewpoint - Beneficient has appointed Peter T. Cangany Jr. as Chairman of the Board, effective December 15, 2025, to enhance its leadership and strategic direction [1]. Group 1: Leadership Appointment - Peter T. Cangany Jr. has been a director of Beneficient and Chairman of its independent Audit Committee since 2019, bringing extensive experience in financial reporting and corporate governance [2]. - Cangany retired as a partner of Ernst & Young LLP in 2017 after nearly 40 years, specializing in auditing public companies in the financial services sector [3]. - Interim CEO James Silk highlighted Cangany's expertise in financial services and governance as critical for driving long-term value for shareholders [4]. Group 2: Cangany's Background - Cangany has a strong background in advising early-stage and growth-oriented businesses, with significant experience in strategic planning and board oversight [4]. - He holds a B.A. in Accounting from Franklin College and an M.B.A. from Texas A&M University, and is a Certified Public Accountant [5]. Group 3: Company Overview - Beneficient aims to democratize the global alternative asset investment market by providing solutions for mid-to-high net worth individuals and small-to-midsized institutions [6]. - The company's subsidiary, Beneficient Fiduciary Financial, L.L.C., operates under the Technology-Enabled Fiduciary Financial Institution Act and is regulated by the Office of the State Bank Commissioner [7].