8-KLeadership ChangesRegulation FDExhibits & Filings

Ares Management Corp 8-K Report, Executive Changes (Feb 5, 2025)

Filed February 5, 2025For Securities:ARESARES-PB

Summary

Ares Management Corporation (ARES) has announced a significant leadership transition, appointing R. Kipp deVeer and Blair Jacobson as Co-Presidents, effective February 5, 2025. This move sees Michael J Arougheti stepping down from the President role, though he will continue as Chief Executive Officer and a member of the Board. Both new Co-Presidents are seasoned leaders within Ares, bringing extensive experience from various credit and investment groups within the firm. This appointment reflects a strategic alignment of operational leadership at the presidential level, likely aimed at further enhancing the company's growth and operational efficiency across its diverse investment strategies. Investors should note that the continuity of Michael J Arougheti as CEO ensures a stable strategic vision, while the elevation of deVeer and Jacobson suggests a deepening of the management bench and a clear path for succession and specialized leadership within the organization.

Key Highlights

  • 1Ares Management Corporation appoints R. Kipp deVeer and Blair Jacobson as Co-Presidents, effective February 5, 2025.
  • 2Michael J Arougheti transitions from President to continue solely as CEO and Board member.
  • 3Both deVeer and Jacobson are existing Partners and have held significant leadership roles within Ares' credit and investment groups.
  • 4Mr. deVeer previously led the Ares Credit Group and has a background in private equity and investment banking.
  • 5Mr. Jacobson previously served as Co-Head of European Credit and has experience in private debt, equity, and investment banking.
  • 6The company issued a press release on February 5, 2025, to announce these leadership changes.

Frequently Asked Questions

Ares Management Corporation has appointed R. Kipp deVeer and Blair Jacobson as Co-Presidents, effective February 5, 2025. Michael J Arougheti has stepped down as President but will continue in his role as CEO and a member of the Board.

R. Kipp deVeer is a long-time Ares executive, having previously led the Ares Credit Group, and has extensive experience in private equity and investment banking. Blair Jacobson has been a key figure in the European Credit group and also has a strong background in private debt, equity, and investment banking.

Yes, Michael J Arougheti will continue in his critical role as Chief Executive Officer of Ares Management Corporation and will remain a member of the Board of Directors.

This change signifies a deepening of leadership within Ares, with two experienced executives taking on presidential roles. It suggests a continuation of strategic direction under CEO Arougheti while distributing presidential responsibilities. The extensive experience of deVeer and Jacobson in credit and investment strategies could indicate a focus on continued growth and operational enhancement in these areas.