Summary
This 8-K filing from Ares Management Corp. (ARES) on February 13, 2020, primarily announces a change in its Board of Directors. Effective February 11, 2020, John Kissick resigned from the Board. This departure was stated to be without any disagreement regarding the company's operations or policies, which is a positive signal for stability. Concurrently, the Board appointed R. Kipp deVeer as a Class II director to fill the vacancy. Mr. deVeer's appointment is effective immediately and he will serve until his successor is elected or other standard termination events occur. The company also furnished a press release announcing this director change as an exhibit, adhering to Regulation FD disclosure requirements.
Key Highlights
- 1John Kissick resigned from the Ares Management Corporation Board of Directors, effective February 11, 2020.
- 2Mr. Kissick's resignation was not due to any disagreements with the company regarding operations, policies, or practices.
- 3R. Kipp deVeer has been appointed as a Class II director to the Board, filling the vacancy left by Mr. Kissick.
- 4Mr. deVeer's appointment is effective February 11, 2020, and he will serve until his successor is duly elected and qualified.
- 5The company furnished a press release detailing the director appointment as Exhibit 99.1.
- 6This filing does not contain material financial updates, focusing solely on board composition changes.