Sources said that Harris wanted Black (pictured) to step down from his CEO role immediatelyGETTY IMAGES
Apollo Global Management Chair & CEO LEON BLACK announced his plan to step down as CEO this year after an inquiry revealed that he had "paid more than $150 million to the convicted sex offender JEFFREY EPSTEIN," according to Goldstein & Rosman of the N.Y. TIMES. Black's decision to step down came following a "brief power struggle this weekend over control of the firm," spurred by the revelations of Black's payments to Epstein. Sources said that Harris Blitzer Sports & Entertainment co-Founder JOSH HARRIS, who co-founded Apollo, "raised objections" to Black’s timeline for stepping down, believing that the reputational threat was so serious that Mr. Black should relinquish the chief executive role without delay." But those sources said that Harris' objection "fell on deaf ears." Apollo co-Founder MARC ROWAN "will take over" when Black steps down. Black in a letter to Apollo's clients yesterday wrote that Harris "will continue in his current role as a senior managing director, focused on the firm’s financial performance" (N.Y. TIMES, 1/26).
