Summary
Blackstone Inc. (BX) filed an 8-K on July 24, 2015, reporting a significant leadership change. Laurence A. Tosi, the Chief Financial Officer, resigned from his position, effective August 7, 2015. Mr. Tosi is transitioning to become the CFO of Airbnb Inc. Concurrently, Blackstone announced the appointment of Michael S. Chae as the new Chief Financial Officer. Mr. Chae is a seasoned Senior Managing Director at Blackstone with extensive experience in international private equity and oversight of various investment strategies. This transition marks a key moment for Blackstone's financial leadership as they navigate future growth and investment opportunities under new direction.
Key Highlights
- 1Resignation of Chief Financial Officer, Laurence A. Tosi, effective August 7, 2015.
- 2Laurence A. Tosi is moving to accept the CFO position at Airbnb Inc.
- 3Appointment of Michael S. Chae as the new Chief Financial Officer.
- 4Michael S. Chae's current role as Senior Managing Director and Head of International Private Equity.
- 5Mr. Chae's experience includes oversight of private equity investments in media, telecom, and the Tactical Opportunities fund.
- 6Mr. Chae has a strong educational background from Harvard College and Yale Law School, and serves on the board of Hilton Worldwide.
- 7Confirmation that Mr. Chae invests in Blackstone's funds and has no family relationship with existing directors or executive officers.