- THE MAGAZINE
- WEB EXCLUSIVES
Plant replaces Neil P. Simpkins, senior managing director of The Blackstone Group, who resigned as chairman, but will remain on the board of directors and assume the newly created position of lead director. Simpkins was appointed chairman of the board in 2003 at the time of Blackstone's majority purchase of the company. Given Blackstone's reduced ownership position, the board of directors agreed that the timing for this transition was appropriate.