Gamco has elected founder Mario Gabellis daughter, Elisa M. Wilson, to the board. She is a shareholder of Gamcos privately held parent company, GGCP, and, along with her siblings, owner of the real estate partnership that leases office space to the firm. She is also president and a trustee of the charitable trust, Gabelli Foundation. Gabellis brother, John D. Gabelli, is also on the board.
But Greggory Warren, a Morningstar analyst, told The Journal News that the relatives serving on the board might give Gabelli too much sway. This is not necessarily the kind of thing we like to see, Warren said. Youd like to have independent board members and people who are knowledgeable about the industry the company compete in, so that they can add their voice to the conversation.