New York — KKR & Co, the mega buyout firm named for its founders, is preparing for a day when those leaders are no longer at the helm. The firm on Monday elevated Scott Nuttall and Joe Bae, two veteran executives in their 40s, to the newly formed roles of co-presidents and co-chief operating officers, responsible for day-to-day operations of KKR. The pair also will join KKR’s board of directors. Cousins Henry Kravis and George Roberts, the co-founders who helped turn leveraged buyouts into the industry it is today, will remain co-chief executive officers and co-chairmen, the New York-based firm said in a statement. Amid the moves, KKR said Alex Navab, its head of private equity in the Americas and one of the most senior deal makers in the industry, decided to leave. "Today’s announcement is about the future and ensuring we have the right team and leadership structure to serve our clients and partners for decades to come," said Kravis and Roberts, who are both 73. "Having joined the ...
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