---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-102120"
form_type: "8-K"
ticker: "ARES"
cik: "0001176948"
company_name: "Ares Management Corp"
filed_at: "2021-08-09T23:59:59+00:00"
generated_at: "2026-06-29T18:03:33.326757+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Ares CFO McFerran terminated for inappropriate employee relationships; Phillips named new CFO

## Summary
- Michael McFerran involuntarily terminated as Partner, COO and CFO after investigation found inappropriate personal relationships with employees in violation of policies.
- Jarrod Phillips, previously CAO, appointed CFO and principal financial and accounting officer effective August 4, 2021.
- Phillips receives $750K base salary and 20,000 Restricted Units vesting over 2-5 years.
- McFerran forfeits all unvested equity and carried interest, including awards valued at over $50 million through 2026.
- Business operations functions (Legal, HR, Compliance, Investment Ops, Tech) now report directly to CEO Arougheti.

## SEC filing metadata
- accession: 0001104659-21-102120
- form_type: 8-K
- ticker: ARES
- cik: 0001176948
- company_name: Ares Management Corp
- filed_at: 2021-08-09T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 5.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1176948/000110465921102120/0001104659-21-102120-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1176948/000110465921102120/tm2124522d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-102120
- JSON: https://secwatch.observer/filing/0001104659-21-102120.json
- Plain text: https://secwatch.observer/filing/0001104659-21-102120.txt

## Key facts
- Executive change
  Jarrod Phillips was appointed as Chief Financial Officer at Ares Management Corp.
  - Action: appointed
  - Role: Chief Financial Officer
  source text: Jarrod Phillips, who is a Partner and Chief Accounting Officer at the Company, has been appointed as Chief Financial Officer of the Company effective August 4, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1176948/000110465921102120/0001104659-21-102120-index.htm
- Executive change
  Michael R. McFerran departed as Partner, Chief Operating Officer and Chief Financial Officer at Ares Management Corp.
  - Action: involuntarily terminated
  - Role: Partner, Chief Operating Officer and Chief Financial Officer
  source text: On August 4, 2021, Michael R. McFerran was involuntarily terminated as Partner, Chief Operating Officer and Chief Financial Officer of Ares Management Corporation
  evidence_url: https://www.sec.gov/Archives/edgar/data/1176948/000110465921102120/0001104659-21-102120-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.