Stock Track | Ares Management Plunges 6.58% in Pre-Market on Leadership Shakeup

Stock Track

Feb 05, 2025

Ares Management LP (ARES) stock plummeted 6.58% in pre-market trading on Wednesday, following the announcement of significant leadership changes at the alternative investment manager.

The company appointed Kipp deVeer and Blair Jacobson to the newly created roles of Co-Presidents, effective immediately. Both executives will transition from their day-to-day roles in Ares' Credit Group to take on broader strategic and operational responsibilities across the firm.

In a related move, Ares Capital Corporation (ARCC), which is externally managed by Ares, announced that Kipp deVeer will step down as CEO on April 30th, 2025. Kort Schnabel has been named as the incoming CEO of Ares Capital, while Jim Miller will continue as President.

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Both executives will transition from their day-to-day roles in Ares' Credit Group to take on broader strategic and operational responsibilities across the firm.</p>\n\n<p>In a related move, Ares Capital Corporation (ARCC), which is externally managed by Ares, announced that Kipp deVeer will step down as CEO on April 30th, 2025. Kort Schnabel has been named as the incoming CEO of Ares Capital, while Jim Miller will continue as President.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ARES","symbol_name":"Ares Management L.P.","start_time":0,"source_url":"","article_id":"1109290821","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1109290821","pubTimestamp":1738765489,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Ares Management LP  stock plummeted 6.58% in pre-market trading on Wednesday, following the announcement of significant leadership changes at the alternative investment manager.The company appointed Kipp deVeer and Blair Jacobson to the newly created roles of Co-Presidents, effective immediately. 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