8-KLeadership ChangesRegulation FDExhibits & Filings

Apollo Global Management, Inc. 8-K Report, Executive Changes (Apr 17, 2025)

Filed April 17, 2025For Securities:APOAPOSAPO-PA

Summary

Apollo Global Management, Inc. (APO) announced significant changes to its Board of Directors through an 8-K filing on April 17, 2025. The most notable development is the appointment of Gary Cohn as Lead Independent Director, effective April 21, 2025. Mr. Cohn, a seasoned executive with extensive experience at IBM, Goldman Sachs, and in government economic policy, brings a wealth of expertise in financial markets, economic policy, and global business management. His appointment fills the vacancy left by Jay Clayton, who is transitioning to a new role. Additionally, Marc Rowan, the current CEO of Apollo, has been appointed as the Chair of the Board, also effective April 21, 2025. These leadership transitions signal a strategic strengthening of the Board's independent oversight and governance. Mr. Cohn's extensive background is expected to enhance the Board's strategic decision-making and operational oversight. The appointment of Mr. Rowan as Chair, in addition to his CEO role, centralizes leadership, and investors will be looking to the company's future communications for insights on how this dual role will be managed. The company also furnished a press release detailing these changes.

Key Highlights

  • 1Gary Cohn appointed as Lead Independent Director of the Board, effective April 21, 2025.
  • 2Jay Clayton resigns from the Board to assume the role of Interim US Attorney for the Southern District of New York.
  • 3Marc Rowan, CEO of Apollo, appointed as Chair of the Board, effective April 21, 2025.
  • 4Gary Cohn's extensive background includes roles at IBM, Goldman Sachs, and as Director of the National Economic Council.
  • 5Gary Cohn will chair the Executive Committee and the Nominating and Corporate Governance Committee.
  • 6Gary Cohn will receive an additional annual fee of $100,000 as Lead Independent Director and a restricted share unit grant valued at $250,000.
  • 7The company furnished a press release detailing these board changes.

Frequently Asked Questions

Apollo Global Management announced the appointment of Gary Cohn as Lead Independent Director and Marc Rowan as Chair of the Board, both effective April 21, 2025. These changes are in connection with the resignation of Jay Clayton from the Board.

Gary Cohn is a distinguished executive with extensive experience. He currently serves as Vice Chairman of IBM and previously held significant roles at Goldman Sachs (President and COO) and in government as Assistant to the President for Economic Policy and Director of the National Economic Council. He is recognized as an expert in financial markets and economic policy.

In addition to standard director compensation, Gary Cohn will receive an additional annual fee of $100,000 for his role as Lead Independent Director. He will also receive an annual grant of restricted share units valued at $250,000. He will serve as chair of the Executive Committee and the Nominating and Corporate Governance Committee, and ex officio on other committees.

Jay Clayton resigned from the Board of Directors to assume the role of Interim US Attorney for the Southern District of New York, effective April 22, 2025. His resignation from the Apollo Board was effective April 21, 2025.