Board changes at Capella, Noranda

Aluminum processor's compensation committee chair exits, investment firms change out reps

Cool Springs neighbors Capella Healthcare and Noranda Aluminum have undergone a number of board changes this week.

The board of Capella has grown by one member to six following the resignation of David Katz, who had been one of two designees of private-equity firm GTCR Golder Rauner. Katz had been on the Capella board since late 2006. In a statement, the company said his resignation is not the result of any disagreement over operations, policies or practices.

Still a Capella director but no longer employed by GTCR is Joseph Nolan, who earlier this year started his own investment firm. Nolan, a former director of local ventures HealthSpring and Province Healthcare, is one of the original GTCR representatives who joined with a group of former Province executives to launch the company in the spring of 2005.

His move and the resignation of Katz gave GTCR the right to nominate two new representatives. The firm has chosen David Donnini and Joshua Earl, a managing director and principal, respectively, of the firm. Donnini, 48, joined GTCR in 1991 and is co-head of its financial services and technology group. Earl, 34, joined GTCR in 2003 and also is a director of Correctional Healthcare Companies and Curo Health Services.

Here's Capella's filing detailing the changes.

At Noranda, independent director Robert Kasdin stepped down today after six years on the board. Kasdin had chaired the board’s compensation committee. He will be replaced by veteran litigator Elliott Sagor, a partner of Mintz & Gold in New York. Sagor will see out Kasdin’s term, which ends in 2016.

In addition, director Gareth Turner this week resigned, effective today, after almost seven years on the board as a representative of investment titan Apollo. The aluminum company’s board has chosen Robert J. Kalsow-Ramos, a 28-year-old Apollo employee, to serve out the remaining year of Turner’s term.

See Noranda’s filing in full here.