Apollo Chairman Resigns

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How many times can Michael Gross quit Apollo Investments? Back in February we heard he had quit his job heading the publicly traded arm of buyout shop started in 1990 with billionaire investment banker Leon Black. Word was that he wanted to start a new business. It turned out that business was Marathon Acquisition, a new outfit flush with cash from the biggest blank check offering ever.
Apparently Gross remained the chairman of Apollo’s board until Monday. Now he’s stepping down, severing yet another tie. Presumably he continues to hold a good deal of Apollo stock, however, so it would be going to far to say he had cut all his ties to the sun god.

Gross Leaves Apollo Investments
[TheStreet.Com]

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