KKR Financial Holdings, a publicly traded debt fund managed by private equity firm Kohlberg Kravis Roberts & Co., named William Sonneborn as its CEO in a shake-up that resulted in two of its top executives to resign, according to Reuters.
Sonneborn will succeed Saturnino Fanlo as CEO and a member of the board, the company said in a statement. Details regarding Fanlo’s resignation were not provided.
Michael McFerran will immediately assume the role of interim COO following the resignation of David Netjes.
Sonneborn will also head KKR’s asset management, a new unit that KKR said it formed, which will manage KKR Financial.
Kohlberg Kravis Roberts & Co. itself said it had plans to become a publicly traded company this yea, although it has pushed those plans to 2009.