Apollo's Executive Pay Overhaul Drives Profit Growth

Apollo, the private equity firm, is implementing changes to executive pay as part of its efforts to groom the "next generation" of leaders. The company is shifting towards a more performance-based compensation structure, with a greater emphasis on long-term incentives tied to shareholder returns. This move comes as Apollo faces scrutiny over its previous compensation practices, including the controversial decision to pay its co-founder, Leon Black, $158 million annually for advice.