KKR & Co. L.P. (NYSE:KKR) knows how to make money. With upwards of $91 billion under management the firm’s founders Henry Kravis and George Roberts received $161.4 million and $165.5 million respectively in cash dividends and executive pay in 2013, according to a recent SEC filing.
Google’s Legal Chief: Board appointment
But that was news from last month. Today saw the firm announce that David C. Drummond, the chief legal officer of Google Inc (NASDAQ:GOOG) and senior vice president for corporate development at the search giant, has decided to join the board of the private equity firm, according to a statement today.
The announcement was made retroactively to Friday and Drummond will also be seated on the conflicts committee. With his appointment, KKR & Co. L.P. (NYSE:KKR)’s board is now comprised of the aforementioned founders and seven independent directors.
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In addition to joining the “Barbarians at the Gate” that founded the company and leveraged RJR Nabisco, Drummond will be joining a notable list of luminaries who make up the board including Joseph A. Grundfest, a former commissioner of the Securities and Exchange Commission; John B. Hess, chief executive of the Hess Corporation; and Robert W. Scully, a former Morgan Stanley executive.
Drummond, who joined Google in 2002 as its first outside legal counsel, worked for the corporate transactions group of the law firm Wilson Sonsini Goodrich & Rosati before agreeing to join Google co-founders Larry Page and Sergey Brin. Drummond’s early work at Google had him facilitating the company’s early financing and incorporation.
By no means is Drummond done with Google Inc (NASDAQ:GOOG). To date, he is still the chair of both of Google’s investment extensions, Google Ventures and Google Capital. His experience with M&As at Google certainly helped his Friday appointment to the KKR & Co. L.P. (NYSE:KKR) board.
Drummond, who like Brin and Page also attended Stanford (in his case Stanford Law School), is a stalwart in Silicon Valley and also sits on the board of both Uber and Rocket Lawyer.