Apollo Promotes Zelter and Zito While Extending CEO’s Contract

Apollo Global Management Inc. promoted two senior executives and said CEO Marc Rowan will agree to a contract extension as the firm embarks on an ambitious five-year growth plan.

Jim Zelter was elevated to president, a newly created role, according to a statement Wednesday. He’ll be succeeded as co-president of the asset management business by credit chief John Zito.

WATCH: Apollo Global Management Inc. promotes two senior executives.

Source: Bloomberg

The moves offer investors more certainty about Apollo’s leadership after President-elect Donald Trump considered tapping Rowan as the next Treasury secretary. As the company’s second-in-command, Zelter, 62, will help the boss meet growth targets announced last year. He will ...