https://www.wsj.com/articles/leon-black-steps-down-as-apollo-chairman-in-unexpected-move-11616415292?mod=hp_lead_pos1 Leon Black, the billionaire co-founder of Apollo Global Management Inc., is stepping down as chairman of the investment giant in an unexpected move that is the latest in a governance overhaul kicked off by revelations of his ties to disgraced financier Jeffrey Epstein. Apollo said Monday that co-founder Marc Rowan had formally assumed the title of chief executive officer from Mr. Black, a transition the New York firm announced in January and said would take place before July 31, Mr. Black’s 70th birthday. Mr. Black, who the firm had previously said would be staying on as chairman, is ceding that role to former Securities and Exchange Commission Chairman Jay Clayton, who was named lead independent director last month.