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    Nelson Obus • Wynnefield Capital, Inc.

    Nelson Obus is the Co-Founder, President, and Chief Investment Officer of Wynnefield Capital, Inc., a hedge fund specializing in small-cap value stocks where he leads investment decisions and firm strategy. He has overseen investments in companies such as Lifecore Biomedical, Jason Industries, Williams Industrial Services, and Breeze-Eastern, guiding the fund to an annualized net return of 13.5% for its small-cap value fund through 2015. Obus began his finance career in 1981 as an analyst and later Director of Sell Side Research at Lazard Freres & Co., before launching Wynnefield Capital in 1992; he has since held director roles at multiple public companies and is noted for his activist investment approach. Holding a B.A. from New York University and an M.A. from Brandeis University, Obus is also an Independent Director at Lifecore Biomedical and maintains extensive industry board involvement.

    Nelson Obus's questions to Quest Resource Holding Corp (QRHC) leadership

    Nelson Obus's questions to Quest Resource Holding Corp (QRHC) leadership • Q1 2025

    Question

    Questioned the reasons for customer attrition beyond the divested business, the justification for bonus accruals in the quarter, and the compensation structure for the sales team.

    Answer

    Customer attrition has been isolated and primarily due to clients being acquired by companies with existing programs. Bonus accruals are based on an annualized forecast and will be trued up at year-end based on performance. The sales team is compensated via a commission plan, not bonuses.

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    Nelson Obus's questions to Quest Resource Holding Corp (QRHC) leadership • Q4 2024

    Question

    Nelson Obus asked about the sources of client attrition beyond the RWS business and M&A activity, questioning if any departures were due to execution issues. He also sought clarity on the long-term strategy for the compactor business.

    Answer

    CFO Brett Johnston reiterated that attrition was mainly from the RWS business held for sale and client acquisitions, emphasizing that client-facing execution remains strong and the business is very sticky. Chairman Daniel M. Friedberg explained the compactor business is core to supporting existing customers and increasing stickiness, but confirmed that paying down debt is the primary focus over aggressively growing that platform.

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