Apollo (NYSE: APO) has announced changes to its board of directors, with financial services leader Gary Cohn being appointed as the new lead independent director. This comes as outgoing chair and lead independent director Jay Clayton will assume the role of interim US Attorney for the Southern District of New York.
As of April 21, 2025, CEO Marc Rowan will take on the expanded role of CEO and chair of the board. This change reflects the ongoing transformation and leadership within the company.
Gary Cohn, who is the Vice Chairman of IBM and a former Director of the US National Economic Council, brings a wealth of business and financial services experience to the board. With 26 years of experience at Goldman Sachs, including a decade as President and Chief Operating Officer, Cohn's appointment is seen as a positive move for Apollo.
In light of these changes, Apollo continues to maintain a two-thirds independent board of directors, ensuring strong governance practices within the company.
Apollo, a high-growth, global alternative asset manager, has been making significant strides in its asset management business, seeking to provide clients with excess returns across the risk-reward spectrum. As of December 31, 2024, the company had approximately $751 billion of assets under management.
The company's focus on stakeholder-oriented leadership, shaping firm strategy, and operational excellence is evident in these board appointments as they aim to continue delivering outstanding results for all stakeholders. The market has reacted to these announcements by moving the company's shares 1.3% to a price of $126.78. Check out the company's full 8-K submission here.
