Rand Capital Corporation announced that Allen F. ?Pete? Grum, President and Chief Executive Officer of Rand, intends to retire effective December 1, 2021. Mr. Grum will remain as a member of the Board of Directors of the Company. As a result of Mr. Grum?s pending retirement, the Board of Directors has appointed Daniel Penberthy, Executive Vice President, Treasurer, Chief Financial Officer and Secretary of the Company, to serve as President and Chief Executive Officer of the Company effective December 1, 2021.