Scott Lem Succeeds Penni Roll in the role of CFO at Ares Capital

Ares Capital has appointed Scott Lem as its Chief Financial Officer, effective February 15, 2024. Lem, currently serving as the company’s Chief Accounting Officer, Vice President, and Treasurer, will succeed Penni Roll, the outgoing CFO. Roll, who also holds the CFO position in Ares Management’s credit group, plans to step down on the same date but will remain an officer of both Ares Capital and Ares Management in a senior leadership capacity.

Kipp deVeer, CEO of Ares Capital, expressed gratitude to Penni Roll for her outstanding leadership and contributions during her 13-year tenure as CFO. He acknowledged Roll’s role in creating significant shareholder value and expanding the company’s market leadership in the business development company sector. Kipp deVeer welcomed Scott Lem to his new role, highlighting his two-decade-long contribution to driving growth and success at Ares Capital.

Penni Roll, the outgoing CFO, expressed excitement about Scott Lem’s appointment, emphasizing their long partnership and Lem’s accomplished executive leadership. Roll looks forward to continuing her career at Ares in a senior leadership capacity.

Scott Lem expressed his honor in becoming the next CFO of Ares Capital, noting his long tenure with the company and expressing excitement about stepping into this role to build upon the company’s success.

Scott Lem has been with Ares since 2003, holding various senior finance and accounting roles within Ares Capital and the Ares Credit Group. His previous experience includes working at Ernst & Young and Arthur Andersen.

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