KKR Elevates Two Executives as Part of Succession Planning

18 Juillet, 2017, 00:12 | Author: Claudine Rigal

The US private equity giant behind Trainline and Toys "R" Us has named two potential successors to its co-founders, more than 40 years after the business was established.

Joe Bae, 45, and Scott Nuttall, 44 have been named co-presidents and co-COOs at KKR, where they will now be in charge of running day-to-day operations.

Their appointments follow speculation about the line of succession at the buyout powerhouse, as Henry Kravis and George Roberts, co-chairmen and co-CEOs are now in their 70s.

"Today's announcement is about the future and ensuring we have the right team and leadership structure to serve our clients and partners for decades to come", Kravis and Roberts said in a statement.

It marks the first time KKR has appointed anyone to the position of president, with Mr Kravis having previously said any of his 15 executives could take up the helm on his and Mr Roberts' retirements. While Blackstone Group has not shaken up its c-suite since co-founder and senior chairman Pete Peterson retired in 2008, it has bolstered its board in recent years with younger deal makers Jon Gray and Bennett Goodman.

Tyga, CJ Wallace to Star in Rebooted 'Scream' Season 3
Additional executive producers are the late Wes Craven, Tony DiSanto, Liz Gateley, Marianne Maddalena and Cathy Konrad. The new season will air as a three-night event in March of next year.

Knicks will not buy out Carmelo Anthony's contract, president Steve Mills says
Even so, the two sides will not be executing a buyout as Mills promptly removed that notion from the slate of possibilities. The Knicks may or may not have Carmelo Anthony on their roster next season, but a buyout isn't an option.

Lions president invites Calvin Johnson to training camp to fix relationship
This wasn't the first time Johnson admitted his dismay for the Lions after his retirement. As one could surmise, Johnson and the team may not be on the best terms.

Bae will focus on the firm's global private equity businesses as well as the real asset platforms across energy, infrastructure and real estate private equity. Nuttall will concentrate on credit, capital markets, hedge funds and fundraising, as well as the firm's balance sheet and strategic initiatives.

Nuttall emerged as a leader at KKR as the firm listed on the New York Stock Exchange in 2010, after merging with a publicly traded fund it managed.

"They think and act globally", Kravis and Roberts said of the duo.

The top private equity firms rely on the track records, influence and mystique of their founders to raise money and land deals.

"Alex has been an outstanding investor and a remarkable leader of our flagship Americas private equity business over the last decade", Kravis and Roberts said, adding that "his management and investment capabilities will benefit any enterprise he joins". KKR said Fisher's move is unrelated to the promotions.



The L-3 Communications Holdings (LLL) Earning Positive News Coverage, Accern Reports
Thrivent Financial for Lutherans raised its stake in shares of L-3 Communications Holdings by 5.0% in the fourth quarter. The company has a 50 day moving average price of $166.31 and a 200 day moving average price of $163.43.

Trump Participates in 'Made in America' Showcase at the White House
Walker's question came at the beginning of the Trump-initiated "Made in America" week, a time for focusing on US manufacturing. The White House's new theme is already taking flak from those pointing out the Trump Organization's business history .

Ship Crushes Boat Before Running Into Bridge
The state Department of Transportation says lanes are blocked on the Ray Nitschke Memorial Bridge due to a marine bridge strike. A boat operator has been arrested after 10 people were left injured after they were thrown from a motor boat...

German police arrest armed man after he shows up at school
A manhunt is still underway to find the suspect who is described as being in his teens with a dark complexion and beard. Police tweeted that the man they arrested was let go again and that the suspect had probably fled on a motor bike.

SAP appoints interim MD amid investigation into Gupta links
The party also criticised Finance Minister Malusi Gigaba. "Where there is smoke there is fire". This is not the first time SAP has been caught with its hands in the cookie jar .

Eldin Jakupovic set to undergo medical at Leicester City on Tuesday
The 2015-16 Premier League champions have already signed Harry Maguire from Hull and also Sevilla captain Vicente Iborra. Leicester City are wrapping up a deal for Hull City goalkeeper Eldin Jakupovic .

Trump administration cuts $213 million for teen pregnancy prevention programs
But yes, it's cutting the $213.6 million to help teens that's really going to save the country from debt. Part of what researchers attribute to the low teen pregnancy rate is an increased use of contraception .

US Bancorp DE Reduces Stake in Acacia Communications, Inc. (NASDAQ:ACIA)
On May 11 the stock rating was downgraded from "Equal-Weight" to "Equal-Weight" in an announcement from Morgan Stanley. William Blair reissued a buy rating on shares of Acacia Communications in a research report on Thursday, June 15th.

Former Balch Springs Police Officer Indicted For Murder
Two of Edwards' brothers were in the auto with him and watched him die, a family lawyer said. Lawyers for Oliver and the Edwards family were not immediately available for comment.

Quincy Enunwa: 'It's hard to argue' Jets are not tanking
Now having said all that, Enunwa does not actually think that the players on the Jets roster are going to tank in 2017. It was merely a comment on the talent that was sent out the door without being replaced.