Crescent Capital BDC, Inc. 8-K

What Happened

• Crescent Capital BDC, Inc. (CCAP) filed an 8-K reporting that Elizabeth Ko resigned from the Board effective at 12:00 a.m. on May 5, 2026. The Board then elected Jason Breaux and Henry Chung as Class III directors effective 1:00 p.m. on May 7, 2026.
• Jason Breaux, who has served as the Company’s Chief Executive Officer since 2015, was elected Chairman of the Board and will continue as CEO. Henry Chung, who has served as President since 2024, was also elected to the Board and will continue as President.

Key Details

• Resignation: Elizabeth Ko resigned effective May 5, 2026; her resignation was not due to any disagreement with management or the Board.
• Board elections: Jason Breaux and Henry Chung were elected as Class III directors effective May 7, 2026; Class III directors stand for election at the 2027 Annual Meeting.
• Compensation and committee assignments: Neither Breaux nor Chung will receive director compensation or equity awards, and neither was named to any Board committees; Ms. Ko did not serve on any Board committees.
• Backgrounds: Breaux is also Chairman of the investment committee of the Company’s adviser and serves as Managing Director and Head of Private Credit at Crescent Capital Group LP; Chung is a Managing Director at Crescent focusing on private credit.

Why It Matters

• The filings show continuity in executive leadership—both the CEO and President remain in their management roles while joining the Board—so investors have transparency about who is steering strategy and investment decisions.
• Electing the CEO as Board Chairman consolidates leadership roles (CEO + Chair), which can affect governance dynamics; the company disclosed there was no board-management disagreement related to the resignation.
• These are governance changes ahead of the 2027 Annual Meeting when the Class III seats will be voted on; investors tracking board composition, independence, or governance should note the updated director roster.