KKR L P : Henry Kravis Elected Chairman of The Business Council

Private Equity Leader Succeeds Jeff Bezos to Lead All-CEO Group

Washington, D. C. - The Business Council - an association made up of the world's top CEOs - today announced that its new board chairman will be Henry Kravis, Co-Chairman and Co-CEO of KKR. Kravis succeeds Jeff Bezos, Amazon Founder, Chairman and CEO, as chairman of the association.

"The Business Council is a unique group of peers - one that I'm grateful to be part of and proud to represent as chairman," Mr. Kravis said. "This group of CEOs comes together to help one another grow and improve as business leaders."

"The broader perspective that we gain from our association and time together is invaluable for the companies and communities that we lead," Mr. Kravis continued. "Under Jeff Bezos' chairmanship, we have been inspired and improved by his uniquely entrepreneurial outlook and have expanded our membership to CEOs in the emerging industries that are changing the global business landscape. I'm grateful for Jeff's leadership and intend to live up to his example."

"Henry Kravis has incredible vision - an ability to see around corners that every CEO tries, and hopes, to master," Bezos said. "As chairman of our board, Henry will lend his unique foresight, and the insight that he has into so many industries across the global economy, to The Business Council - an organization whose value extends far beyond our membership."

"The Business Council was originally convened in 1933 to advise the executive branch of the U.S. Government," explained Marlene Colucci, the association's Executive Director. "We have evolved to be the only venue for the world's top CEOs to engage in their own professional, intellectual and leadership development. Previous board chairmen have described it as 'one of the only places to gather with others who face the same challenges' (Jamie Dimon) and 'continuing education for CEOs' (Andrew Liveris)."

"Our membership functions as a collaborative community, and we look forward to seeing it thrive under Henry Kravis' leadership," Colucci said.

The 2017-2018 Executive Committee of The Business Council will include the following CEO members:

Chair, Henry R. Kravis - Co-Chairman and Co-CEO, KKR

Ajay Banga - President and CEO, MasterCard

Alex Gorsky - Chairman & CEO, Johnson & Johnson Satya Nadella - Chief Executive Officer, Microsoft Corp.

Irene Rosenfeld - Chairman & CEO, Mondelez International Martin Sorrell - Group Chief Executive, WPP Group plc Jeffrey P. Bezos - Founder & CEO, Amazon.com

James Dimon - Chairman & CEO, JP Morgan Chase & Co.

Andrew N. Liveris - President, Chairman & CEO, The Dow Chemical Company David M. Rubenstein - Co-Founder and Co-CEO, The Carlyle Group

Al Walker - Chairman, President & CEO, Anadarko Petroleum Corporation

*Steven A. Kandarian - Chairman, President & CEO, MetLife, Inc.

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The Business Council is a Washington, D.C.- based organization established in 1933 as The Business Advisory Council for the Department of Commerce. In 1961, the group's name changed to The Business Council, and its scope was broadened to include advisory functions to all elements of the national government. Today the Council is a learning, networking and best-practice sharing organization for the chief executive officers of the world's most competitive enterprises. Members meet three times a year to discuss public policy and economic issues relevant to the members' businesses with top officials of government and other thought leaders in academia, science, technology and society at

large. Membership is personal, by invitation only and non-transferable.

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