RESEARCH TRIANGLE PARK – Pappas Capital founder Art Pappas is not retiring but changes are being made at the venture capital firm he launched 25 years ago.
WRAL TechWire sought clarification about the continuing role for the founder after the firm announced early Tuesday some changes in management.
Here’s the discussion TechWire had with a Pappas Capital spokesperson:
- Is Art planning to retire?
No. Art continues to lead the firm as Managing Partner of Pappas Capital and remains a Managing Partner of Pappas Ventures.
- Is Art Pappas stepping away from some responsibilities at Pappas?
Kyle [Rasbach] and Art will work hand-in-hand as Managing Partners of Pappas Ventures.
Kyle’s promotion to Managing Partner is an expansion of the firm’s leadership team that effectively positions Pappas for its next phase of growth and development following the firm’s successful 25-year track record.
[Pappas Capital describes Pappas Ventures as its “flagship” business.]
- Is [former CFO] Ford Worthy retiring while remaining as an advisor?
The firm has been planning for a leadership transition under which Ford will move from CFO to Senior Advisor and continue as a Partner.