Leon Black Will Step Down as Apollo CEO

The transcript discusses changes in Apollo's board governance and leadership, highlighting Mark Rowan's appointment as CEO. It explores the importance of succession planning in private equity, noting industry trends and the challenges faced by firms like Apollo. The discussion also touches on the historical context of leadership transitions and the evolving nature of private equity firms.

What significant change did Apollo make to its board governance?

• They appointed a new CFO.

• They dissolved the board entirely.

• They reduced the number of board members.

• They added new external members to the board.

Who was appointed as the new CEO of Apollo?

• Mark Rowan

• Robert Kraft

• Leon Black

• Josh Harris

What was a major concern at Apollo that led to turnover?

• Lack of a succession plan

• Financial instability

• Legal issues

• Decline in market share

Why is succession planning particularly important for firms with legendary status on Wall Street?

• To increase stock prices

• To ensure continuous leadership

• To attract more investors

• To comply with government regulations

What is Mark Rowan's leadership style expected to bring to Apollo?

• A reduction in workforce

• A complete overhaul of the company

• A focus on aggressive expansion

• A quieter, more strategic approach