8-KLeadership Changes

Apollo Global Management, Inc. 8-K Report, Executive Changes (Aug 10, 2022)

Filed August 10, 2022For Securities:APOAPOSAPO-PA

Summary

Apollo Global Management, Inc. (APO) has filed an 8-K report to announce a significant change in its Board of Directors. Joshua J. Harris, a long-standing member of the Board, has decided not to seek re-election at the company's upcoming annual meeting. His term will conclude on October 7, 2022. Both CEO Marc Rowan and Mr. Harris expressed their gratitude and confidence in the company's future leadership and strategic positioning. This development, while a change in board composition, is presented by leadership as a planned transition with full confidence in the current stewardship of the company. Investors should note that all directors are elected annually, and the company maintains a majority of independent directors on its Board. Apollo expects to file its 2022 proxy statement shortly, which will provide further details on director elections.

Key Highlights

  • 1Joshua J. Harris will not seek re-election to the Apollo Global Management, Inc. Board of Directors.
  • 2Mr. Harris's term on the Board will conclude on October 7, 2022.
  • 3CEO Marc Rowan expressed gratitude for Mr. Harris's contributions to building Apollo.
  • 4Mr. Harris conveyed confidence in Apollo's leadership and future positioning.
  • 5Apollo's directors are elected annually, with at least two-thirds being independent.
  • 6The company expects to file its 2022 proxy statement soon.

Frequently Asked Questions

Joshua J. Harris has decided not to seek re-election to the Board of Directors at the company's next annual meeting. His current term will conclude on October 7, 2022.

The filing and statements from both CEO Marc Rowan and Mr. Harris suggest this is a planned transition. Both parties expressed strong confidence in Apollo's current leadership and its strategic positioning, indicating no direct link to performance concerns.

Apollo Global Management, Inc. expects to file its 2022 proxy statement shortly, which will provide further details on the election of directors at the upcoming annual meeting.

This statement highlights Apollo's commitment to corporate governance. Having a majority of independent directors ensures that the Board can make decisions in the best interest of all shareholders, free from potential conflicts of interest that might arise from management or controlling shareholders.