Koch Says Billionaire Owner Will Share CEO Role (Correct)

Koch Industries Inc. said long-time executive Dave Robertson is joining its billionaire owner Charles Koch as co-chief executive officer as the company prepares for his succession.

The overhaul is aimed at ensuring that Koch Industries “will continue to succeed well into the future,” the company said in a statement.

Koch, who is 87, will remain as chairman, and his role and responsibilities at the industrial conglomerate — which controls everything from crude refineries to a software developer — won’t change, the company said in a statement.

Robertson, who began his career with Koch companies in 1984 and has led ...