The U.S. American investment firm heralds a new era with new co-CEO appointments.
KKR founders Henry Kravis and George Roberts are stepping down from their CEO roles and are being replaced by Joe Bae and Scott Nuttall effective immediately, according to a statement Monday.
Bae and Nuttall have both been with KKR since 1996 and have served as co-presidents of the company since 2017. Kravis (77) and Roberts (78), who held the dual CEO position for 45 years, will continue to chair the board.
KKR was a pioneer private equity firm that bought mostly struggling companies to restructure them and then resell them at a profit. The company employs around 2,000 people and its investments in businesses, real estate, insurance and loans total around $430 billion.
