REUTERS: Apollo Global Management co-founder Leon Black has left his executive positions at the private equity firm, a move that caps a series of corporate governance changes triggered by a review of his ties to late financier and convicted sex offender Jeffrey Epstein.
"The relentless public attention and media scrutiny concerning my relationship with Jeffrey Epstein - even though the exhaustive Dechert report concluded there was no evidence of wrongdoing on my part — have taken a toll on my health and have caused me to wish to take some time away from the public spotlight that comes with my daily involvement with this great public company," Black said in a letter to Apollo's board of directors.
Apollo said on Monday that co-founder Marc Rowan will formally take over as CEO after being named as Black's successor in January. Two new independent directors, Richard Emerson and Kerry Murphy Healey, were also added to Apollo's board.New York-based Apollo had appointed Clayton, 54, who was SEC chairman from May 2017 to December 2020, as lead independent director in February to improve corporate governance after the review.
"In the last few months, not only did we announce a transformative merger with Athene, but also expect to report that our first quarter earnings will exceed analyst consensus in all relevant measures," Black said in a statement on Monday.
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