8-KLeadership ChangesExhibits & Filings

Blackstone Inc. 8-K Report, Executive Changes (Jul 24, 2015)

Filed July 24, 2015For Securities:BX

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.

Frequently Asked Questions

Laurence A. Tosi resigned to accept a new opportunity as the Chief Financial Officer of Airbnb Inc.

Michael S. Chae will be appointed as the new Chief Financial Officer upon Mr. Tosi's departure.

Michael S. Chae is a Senior Managing Director at Blackstone, Head of International Private Equity, and has experience overseeing private equity investments in media, telecom, and the Tactical Opportunities fund. He graduated magna cum laude from Harvard College, holds an M.Phil. from Cambridge University, and a J.D. from Yale Law School. He also serves on the board of Hilton Worldwide.

This filing does not indicate financial distress. It reports a routine (though significant) executive transition. Mr. Tosi is moving to another prominent company, and Mr. Chae, an internal candidate with substantial experience, is stepping into the CFO role.