- Push-out Score determined
- After 45 years in the position
- Praise for Henry Kravis and George Roberts
- Joe Bae and Scott Nuttall taking over
- Henry Kravis and George Roberts will remain as Executive Co-Chairmen at KKR
- Henry Kravis and George Roberts spoke at length and said 173 words
(exechange) — New York, October 11, 2021 — This news came on Columbus Day. Henry Kravis and George Roberts, co-chief executive officers of KKR, leave their positions. As announced by KKR & Co. in a news release on Monday, October 11, 2021, Henry Kravis and George Roberts leave their posts as co-chief executive officers at the private-equity firm, after 45 years in the role, effective immediately.
Henry Kravis and George Roberts’s duties as Co-CEOs will be taken over by Joe Bae and Scott Nuttall, most recently Co-Presidents and Co-Chief Operating Officers at KKR & Co.
No reason given
In the announcement, KKR did not explicitly explain the reason for the move.
Henry Kravis and George Roberts will remain as Executive Co-Chairmen at KKR
“Joe Bae and Scott Nuttall have been appointed Co-Chief Executive Officers, and Co-Founders Henry Kravis and George Roberts will remain actively involved as Executive Co-Chairmen of KKR’s Board of Directors. The leadership transition is effective immediately,” KKR said.
Share price increase since October 2016
The announcement follows an increase in KKR & Co.’s share price of 359% since October 2016.
In the position of Co-Chief Executive Officers since 1976
Henry R. Kravis co-founded KKR in 1976.
Kravis currently serves on the boards of Axel Springer and ICONIQ Capital, LLC.
He also serves as a director, chairman emeritus, or trustee of several other cultural, professional, and educational institutions, including The Business Council (former chairman), Claremont McKenna College, Columbia Business School (co-chairman), Mount Sinai Hospital, the Partnership for New York City (former chairman), the Partnership Fund for New York City (founder), Rockefeller University (vice chairman), Sponsors for Educational Opportunity (chairman), and the Tsinghua School of Economics and Management in China.
He earned a B.A. from Claremont McKenna College in 1967 and an M.B.A. from the Columbia Business School in 1969.
Kravis has more than four decades of experience financing, analyzing, and investing in public and private companies, as well as serving on the boards of a number of KKR portfolio companies.
George R. Roberts co-founded KKR in 1976.
He is actively involved in managing the Firm and serves on regional Private Equity Investment and Portfolio Management Committees.
Roberts has served as a director or trustee of several cultural and educational institutions, including Claremont McKenna College.
He is also founder and Chairman of the board of directors of REDF, a San Francisco nonprofit organization.
He earned a B.A. from Claremont McKenna College in 1966 and a J.D. from the University of California (Hastings) Law School in 1969.
Roberts has more than four decades of experience financing, analyzing, and investing in public and private companies, as well as serving on the boards of a number of KKR portfolio companies.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Henry Kravis’s and George Roberts’s move on a scale of 0 to 10.
exechange reached out to KKR and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 42.2021 ($).