8-KLeadership Changes

Blackstone Inc. 8-K Report, Executive Changes (Jun 8, 2018)

Filed June 8, 2018For Securities:BX

Summary

Blackstone Inc. (BX) filed an 8-K on June 8, 2018, to report a change in its Principal Accounting Officer. Kathleen Skero, the current Principal Accounting Officer, has announced her retirement effective June 30, 2018. This transition marks the end of her tenure, and the company is appointing an internal successor to ensure continuity. Christopher Striano, a Senior Managing Director with extensive experience at Blackstone since 1998, will assume the role of Principal Accounting Officer upon Ms. Skero's retirement. Mr. Striano's responsibilities will encompass global fund accounting, corporate accounting, accounting policy, and oversight for various segments including Private Equity. His long-standing involvement in strategic projects, including the firm's IPO, and his leadership in financial planning and analysis, suggest a smooth handover of duties. Investors can view this as a standard leadership transition within the finance department.

Key Highlights

  • 1Kathleen Skero, Principal Accounting Officer, announced her retirement effective June 30, 2018.
  • 2Christopher Striano will be appointed as the new Principal Accounting Officer.
  • 3Mr. Striano has been with Blackstone since 1998 and holds the title of Senior Managing Director.
  • 4His current responsibilities include Global Fund Accounting, corporate accounting, and accounting policy.
  • 5Mr. Striano has significant experience in strategic planning, including Blackstone's IPO.
  • 6He also oversees financial reporting for Private Equity, Tactical Opportunities, and Infrastructure funds.
  • 7Mr. Striano's compensation and investments align with other Blackstone personnel as detailed in the 2017 10-K.

Frequently Asked Questions

This 8-K filing is primarily to report the retirement of Kathleen Skero, the Principal Accounting Officer, and the subsequent appointment of Christopher Striano as her replacement.

Christopher Striano is replacing Kathleen Skero. He is a Senior Managing Director at Blackstone with nearly 20 years of experience at the firm, involved in key areas such as global fund accounting, corporate accounting, and strategic initiatives including the firm's IPO.

No, this filing indicates a standard leadership transition due to retirement. Christopher Striano's extensive experience and long tenure at Blackstone suggest continuity and a well-prepared succession plan, rather than any underlying financial concerns.

The filing notes that, like other Blackstone personnel, Mr. Striano invests in and alongside Blackstone's funds. Specific details regarding his compensation and investment are further described in Blackstone's Annual Report on Form 10-K for the year ended December 31, 2017.