Thomas Sittema has resigned from Corporate Capital Trust II's board of trustees as chairman of the board and as CEO of the company, each effective immediately.
On Dec. 7, the board appointed Chirag Bhavsar to succeed Sittema as CEO and chairman, effective immediately. He was appointed to serve as an interested trustee for a term expiring at the company's 2018 annual meeting of shareholders. He will continue to hold the CFO and COO roles.
Sittema announced his resignation to pursue other interests and not as a result of any disagreement with the company.