KKR has lined up two executives to succeed Henry Kravis and George Roberts, the co-founders of the $138bn buyout group who helped to develop the private equity industry in the 1980s.
In a rare move for an industry where succession plans are not usually set out publicly, Scott Nuttall and Joseph Bae have been appointed as co-presidents and co-chief operating officers and members of the private equity firm’s board of directors.
Long rumoured to be favourites to fill the founders’ shoes, Mr Nuttall, 44, and Mr Bae, 45, will be in charge of day-to-day operations.
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