Apollo Global Management appoints Kristiane Kinahan as chief accounting officer

Apollo Global Management, Inc. (NYSE:APO) announced the appointment of Kristiane Kinahan as chief accounting officer, effective Monday. The decision was approved by the company’s board of directors the same day, according to a statement released through a Securities and Exchange Commission filing.

Kinahan, 46, has served as managing director and head of financial reporting at Apollo since November 2021. In her current role, she has overseen Securities and Exchange Commission and external reporting, corporate reporting and consolidations, compensation reporting, and management reporting for a company that currently generates annual revenue of $24.4 billion and maintains a healthy current ratio of 1.79, indicating strong liquidity management.

Prior to joining Apollo, Kinahan held several financial reporting positions at The Goldman Sachs Group (NYSE:GS), Inc., including managing director in financial reporting from January 2018 to October 2021, and vice president in financial reporting from June 2008 to December 2017. She previously served as vice president responsible for SEC reporting at Vornado Realty Trust (NYSE:VNO) and began her career in the audit practice at KPMG.

Kinahan holds a Bachelor of Science in Accounting with a minor in Finance from Fairfield University and is a certified public accountant in New York.

According to the filing, Kinahan has no family relationship with any member of Apollo’s board or executive officers and is not a party to any transactions requiring disclosure under Item 404(a) of Regulation S-K. There are no arrangements or understandings between Kinahan and any other persons related to her appointment as chief accounting officer. It is anticipated that she will enter into an indemnification agreement in a form consistent with those of other directors and executive officers at the company.

This information is based on a statement provided in an SEC filing. For investors seeking deeper insights, InvestingPro offers comprehensive analysis of Apollo’s financial performance, including 10+ additional ProTips and detailed metrics. The platform’s exclusive Pro Research Report provides in-depth analysis of Apollo’s business model, competitive position, and growth prospects, making it an essential tool for informed investment decisions.

In other recent news, Brightstar Lottery, previously known as International Game Technology (NYSE:IGT) PLC, has completed the sale of its Gaming & Digital business to a holding company managed by Apollo Global Management affiliates for approximately $4 billion in net cash proceeds. The company plans to use $2 billion of the proceeds for debt reduction, including redeeming certain notes and prepaying term loan facilities. Shareholders will benefit from a $3.00 per share special cash dividend and a new $500 million share repurchase program. Additionally, Apollo Global Management has agreed to provide £4.5 billion in financing to Électricité de France (EDF (EPA:EDF)) for UK energy projects, primarily the Hinkley Point C nuclear power station. This financing addresses a funding gap for the project, which has seen costs rise to nearly £46 billion. Meanwhile, chipmaker Wolfspeed Inc. (NYSE:WOLF) is reportedly nearing a bankruptcy deal with Apollo and other lenders, which would involve a prepackaged bankruptcy strategy to reduce its debt burden. This plan may allow Wolfspeed shareholders to recover up to 5% of their investment, a rare outcome in bankruptcy scenarios.

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