Ares Capital Corporation announced that the company?s chief accounting officer, Vice President and Treasurer, Scott Lem, has been appointed as its new chief financial officer, effective February 15, 2024. Mr. Lem succeeds Penni Roll, who plans to step down as Ares Capital?s Chief Financial Officer, effective the same date. Ms. Roll, who also serves as the Chief Financial Officer of Ares Management Corporation?s (Ares) Credit Group, will remain an officer of Ares Capital and at Ares in a senior leadership capacity.

Since joining Ares in 2003, Mr. Lem has served in a number of senior finance and accounting roles, both at Ares Capital and in the Ares Credit Group. Prior to joining Ares, Mr. Lem worked at Ernst & Young LLP and Arthur Andersen LLP. He graduated with a B.S. in Accounting from the University of Southern California's Leventhal School of Accounting and a B.S. in Business Administration from the University of Southern California's Marshall School of Business.

Mr. Lem also received an MBA in Finance from UCLA'sAnderson School of Management.