Management ChangeMay 7, 2026, 05:12 PM
Gabelli Global Utility & Income Trust CIO Gabelli on leave; Marangi named President
AI Summary
Gabelli Global Utility & Income Trust announced that Mario J. Gabelli, its Trustee, Chairman, and Chief Investment Officer, is on medical leave following an incident on March 19, 2026. His condition is improving, but his return timeline is undetermined. In response, GAMCO Investors, Inc., the parent company of the Fund's adviser, activated its succession plan, naming Christopher J. Marangi as President of GAMCO. Day-to-day operations of GAMCO will be led by co-CEO Douglas R. Jamieson and Christopher J. Marangi, while the Fund's portfolio management is led by Kevin V. Dreyer and Christopher J. Marangi.
Key Highlights
- Mario J. Gabelli, Trustee, Chairman, and CIO, is on medical leave since March 19, 2026.
- His condition is improving, but the timeline for his return is currently unknown.
- GAMCO Investors, Inc. implemented its succession plan on March 22, 2026.
- Christopher J. Marangi was named President of GAMCO on March 22, 2026.
- GAMCO's day-to-day operations are led by co-CEO Douglas R. Jamieson and Christopher J. Marangi.
- The Fund's portfolio management is led by Co-CIOs Kevin V. Dreyer and Christopher J. Marangi.