William C. Sonneborn Appointed Chief Executive Officer of KKR Financial Holdings LLC
December 15 2008 - 7:44PM
PR Newswire (US)
Investor Call Scheduled for 8 a.m. EST, Tuesday, Dec. 16 SAN
FRANCISCO, Dec. 15 /PRNewswire-FirstCall/ -- KKR Financial Holdings
LLC (NYSE:KFN) ("KFN" or the "Company") today announced that its
Board of Directors has appointed William C. Sonneborn as the
Company's new Chief Executive Officer ("CEO") and a member of the
Board of Directors, effective immediately. Mr. Sonneborn will
succeed Saturnino S. Fanlo, who resigned from his positions as CEO
and a member of the Board of Directors. The Board of Directors also
announced the resignation of David A. Netjes from his position as
the Company's Chief Operating Officer ("COO"); Michael McFerran
will assume the role of interim COO, effective immediately. "Bill's
broad experience in the asset management business speaks volumes
about his ability to lead KFN through today's turbulent markets. He
is the right person to lead the business and rebuild shareholder
value," Chairman of the Board of Directors Paul Hazen said. Prior
to joining KKR, Mr. Sonneborn was President and Chief Operating
Officer of The TCW Group, Inc., a leading investment management
firm with over $130 billion in assets. Prior to joining TCW, he
spent six years at Goldman, Sachs & Co. in both New York and
Hong Kong. Sonneborn also currently serves as a director and member
of the Executive Committee of the Los Angeles Council of the Boy
Scouts of America and as a trustee of the St. John's Health Center
Foundation. Information for Investors: Conference Call KKR
Financial Holdings LLC will host a conference call to discuss the
management changes on Tuesday, December 16, 2008 at 8:00 a.m.
Eastern Time. The conference call may be accessed by dialing (888)
778-8913 (Domestic) or (913) 981-5525 (International); a pass code
is not required. A telephonic replay of the call will be available
through December 23, 2008 by dialing (888) 203-1112 (Domestic) and
(719) 457-0820 (International) / pass code 8054265. KKR Financial
Holdings LLC is a publicly traded specialty finance company that
invests in multiple asset classes. KKR Financial Holdings LLC is
externally managed by KKR Financial Advisors LLC, a wholly-owned
subsidiary of Kohlberg Kravis Roberts & Co. (Fixed Income) LLC,
which is a wholly-owned subsidiary of Kohlberg Kravis Roberts &
Co. L.P. Additional information regarding KKR Financial Holdings
LLC is available at http://www.kkr.com/. CONTACT: Investors Laurie
L. Poggi KKR Fixed Income (415) 315-3718 Media Peter McKillop
Kristi Huller (212) 750-8300 DATASOURCE: KKR Financial Holdings LLC
CONTACT: Investors, Laurie L. Poggi of KKR Fixed Income,
+1-415-315-3718; or Media, Peter McKillop, or Kristi Huller,
+1-212-750-8300, , both of KKR Financial Holdings LLC Web site:
http://www.kkr.com/
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