on or before July 31, but that he would remain chairman of the company.
Black is now handing over the role of chairman to Jay Clayton, former chairman of the Securities and Exchange Commission, who recently became an independent director at the company. Co-founder Marc Rowan will take over as CEO with immediate effect. In a statement, Black said that now was"the ideal moment to step back and focus on my family, my wife Debra's and my health issues, and my many other interests."
"Over the past 30-plus years, my co-founders, Marc, Josh Harris and I, have worked extremely hard to make Apollo a franchise built for enduring success. I believe strongly that Apollo's best days lie ahead," he said.The money that Black paid to Esptein was for a"variety of issues related to trust and estate planning, tax, philanthropy, and the operation of the Family Office," the January review by law firm Dechert found.
The review said neither Black or Apollo were involved in any of Epstein's criminal activity. There was also"no evidence that Epstein ever introduced Black, or offered to introduce Black, to any underage woman," it said., on federal charges for the sex trafficking of minors, and died one month later in federal prison. His death was ruled a suicide.
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