KKR looks to future without Kravis, Roberts at helm

KKR is the latest private equity firm to promote younger executives in preparation for succession

KKR & Co, the storied 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