Gary Cohn to join the Board as Lead Independent Director
Outgoing Chair and Lead Independent Director Jay Clayton assuming role as interim US Attorney for SDNY
Apollo announced changes to its Board of Directors. Financial services leader Gary Cohn has been appointed to the Board as Lead Independent Director. Jay Clayton, who has served as Chair and Lead Independent Director since March 2021, has informed Apollo that he will assume the role of Interim US Attorney for the Southern District of New York on April 22, 2025 and his resignation from the Apollo Board will be effective as of April 21, 2025. In addition, CEO Marc Rowan has been appointed to the expanded role of CEO and Chair of the Board. Both appointments will be effective as of April 21, 2025.
Commenting on the Board appointments, Clayton said, “It was an honor to Chair the Apollo Board of Directors over the past four years. Our Board has overseen a remarkable transformation to shareholder-aligned stewardship and our management team, under Marc Rowan’s leadership, has delivered outstanding results for all our stakeholders. I am pleased to welcome Gary Cohn to the Board. Gary has a wealth of business and financial services experience across both the private and public sectors and has an unparalleled understanding of the role financial services firms play in our global economy. His appointment as Lead Independent Director supports Apollo’s continued commitment to best-in-class governance. I am pleased Marc has accepted the Board’s request to take on the expanded role of Chair where he will continue to provide stakeholder-oriented leadership, shape firm strategy and ensure operational excellence.”
Cohn said, “I couldn’t be more excited to work with a transformational firm like Apollo that is driving the financial services industry forward. With the ongoing convergence of public and private markets, this is a remarkable time to create value for its shareholders and investors. I look forward to working with Marc and the Board to help Apollo capitalize on this opportunity and execute its growth plans.”
Rowan said, “In just a few years, Jay has made tremendous and lasting contributions to Apollo, and he was a stabilizing force at an extraordinary time for our firm. He operates with the highest integrity, and we are grateful for his strong stewardship. With his forthcoming departure, I can think of few professionals more qualified to help fill his shoes than Gary Cohn, who we are pleased to appoint as Lead Independent Director.”
Gary Cohn is the Vice Chairman of IBM and former director of the US National Economic Council. He spent 26 years with Goldman Sachs, including a decade as President and Chief Operating Officer from 2006-2016. He began his career in commodities trading in 1982. He is a member of the Board of Trustees of NYU Langone Health and is a graduate of American University.
Accounting for these changes, Apollo continues to maintain a two-thirds independent Board of Directors.
