BOARD OF DIRECTORS
Jay Lifton – Chairman of the Board
Jay Lifton is the Chief Executive Officer, Co-Founder and Managing Partner of Persephone Capital Partners. Mr. Lifton has over 25 years of corporate finance, capital markets, private equity/distressed investing and corporate restructuring experience. Most recently, Mr. Lifton was co-head of J.P. Morgan's Investor Driven Capital Markets (financings focused on mid market companies and DIP, Exit and Rescue lending). His previous position was as Managing Director in J.P. Morgan's Fixed Income Credit Trading Group specializing in distressed investment opportunities in the Americas. Mr. Lifton played a prominent role in building the franchise in Distressed Debt and High Yield at JPM during his 12 years in Credit Trading. Prior to J.P. Morgan, Mr. Lifton was in the Corporate Restructuring Group at The Bank of New York, and in International Trade Finance at Irving Trust.
Mr. Lifton has served as chairperson on several international bankruptcy committees and numerous boards of directors, and in addition to GRT, Mr. Lifton is currently on the board of Gleacher & Company and Renewable Biofuels, Inc. and had been most recently on the boards of Bally Total Fitness and Safety Kleen, Inc. Previously, Mr. Lifton has served on boards for companies in the chemical, healthcare, manufacturing, power and transportation sectors. Mr. Lifton currently serves as an observer on the New York State Financial Control Board.
Mr. Lifton received a B.A. in Economics from S.U.N.Y. at Stony Brook, and an M.B.A. from Baruch College.
Frank Plimpton – Secretary/Treasurer
Frank Plimpton is a Co-founder and General Partner of Persephone Capital Partners. Mr. Plimpton is a 30 year veteran of distressed investing and reorganizations. Since 2009, Mr. Plimpton has been making direct and special investments. Previously, Mr. Plimpton served as a partner at MatlinPatterson Global Advisors LLC from its inception in July 2002 through 2008, and was a member of its predecessor, the Distressed Securities Group at Credit Suisse First Boston (starting in Tokyo). Mr. Plimpton worked as a distressed investor with Smith Management Company Pegasus Financial and Wexford Capital Advisors; as an M&A/Restructuring investment banker with PaineWebber Incorporated (now part of UBS) and Solomon Brothers, Inc. (now part of Citicorp); and as a bankruptcy lawyer with Milbank, Tweed, Hadley & McCloy.
Mr. Plimpton is currently serving on the board of National Holdings Corporation where he is a shareholder, and having previously served on the boards of XL Health Company, Broadpoint Securities (now Gleacher & Company), NRG Energy, Inc., KGen Power LLC, Renewable BioFuels LLC, NorthernStar Natural Gas LLC, Railworks Corporation, Oxford Automotive, Inc. and Aokam Perdana Berhad.
Mr. Plimpton holds a B.A. in Applied Mathematics and Economics from Harvard College (cum laude). Mr. Plimpton received a law degree from The University of Chicago Law School, and an MBA from The University of Chicago Booth School of Business
Alex Sorokin – Chief Executive Officer
Mr. Sorokin is a Co-Founder and General Partner of Persephone Capital Partners. Mr. Sorokin began his career in marketing strategy and strategic planning and went on to be a consultant and CEO helping companies with business and financial restructurings across a wide range of industries for the past 30 years. He has been CEO of nine different companies, including most recently Ener1, a “green energy” lithium-ion battery manufacturer, Medical Staffing Network, which provides health care services, Vertis Communications and IWP International, while based in London.
In addition to his CEO experience, Mr. Sorokin has advised over 40 companies requiring business improvement, including many with field operations that are service based and benefit from the advantages of technology and work flow automation. Among the industries served are insurance, transportation, staffing, construction, and distribution. He has been a board member of six different companies.
Mr. Sorokin received a B.A. from The Johns Hopkins University.