Citing health issues, billionaire David Koch, 78, will step down from his roles at Koch Industries and the political activism network he runs with his brother, Charles Koch.
"Unfortunately, these issues have not been resolved, and his health has continued to deteriorate," Charles wrote in a letter sent to Koch Industries employees Tuesday. "As a result, he is unable to be involved in business and other organizational activities." Charles praised David's "guidance and loyalty, especially in our most troubling times."
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Koch Industries is the second-largest private company in the United States. David Koch will be named director emeritus.
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