8-KLeadership ChangesRegulation FDExhibits & Filings

KKR & Co. Inc. 8-K Report, Executive Changes (Mar 15, 2011)

Filed March 15, 2011For Securities:KKRKKRTKKR-PDKKRS

Summary

KKR & Co. L.P. (KKR) filed a Form 8-K on March 14, 2011, primarily to announce a significant change in its Board of Directors. The report details the appointment of Patricia F. Russo to the Board of Directors of KKR Management LLC, the managing partner of KKR & Co. L.P., and its Conflicts Committee. This appointment is effective as of April 15, 2011. Ms. Russo's appointment is accompanied by standard compensation for independent directors, including an annual cash retainer of $75,000, prorated for her initial term. The filing also confirms that Ms. Russo has entered into an indemnification agreement with KKR. This move suggests KKR's ongoing efforts to strengthen its governance and potentially add diverse, experienced leadership to its board.

Key Highlights

  • 1Appointment of Patricia F. Russo to KKR Management LLC's Board of Directors and Conflicts Committee, effective April 15, 2011.
  • 2Ms. Russo will receive standard independent director compensation, including a prorated annual cash retainer of $75,000.
  • 3Ms. Russo has entered into an indemnification agreement with KKR.
  • 4The appointment is disclosed via a press release furnished as Exhibit 99.1 to the 8-K filing.
  • 5The information regarding Ms. Russo's appointment is furnished under Regulation FD and is not considered 'filed' for purposes of Section 18 of the Exchange Act, unless expressly incorporated into other filings.
  • 6The filing does not contain any other material financial or operational updates beyond the director appointment.

Frequently Asked Questions

Patricia F. Russo is a new independent director appointed to the Board of Directors of KKR Management LLC and its Conflicts Committee. While the filing doesn't detail her specific qualifications, the appointment of experienced independent directors is generally seen as a positive step for corporate governance, bringing fresh perspectives and oversight to the company's strategic direction.

Ms. Russo will receive the standard compensation for independent directors, which includes a prorated annual cash retainer of $75,000. She has also entered into an indemnification agreement, a common practice to protect directors from personal liability related to their service.

Ms. Russo's appointment to the Board of Directors is effective starting April 15, 2011.

No, this Form 8-K filing is solely focused on the appointment of Patricia F. Russo to the Board of Directors. There are no other material financial statements, operational results, or significant business events disclosed in this particular report.