Billionaire David Koch to retire from Koch Industries: CNBC

June 5 (Reuters) - Billionaire industrialist David Koch is retiring from his role at Koch Industries and associated companies due to health reasons, CNBC reported on Tuesday, citing an internal memo.

David Koch, along with his brother Charles, owns the second largest private U.S. company, whose operations range from refining and chemicals to ranching and forest products. The brothers are known to spend heavily on conservative initiatives and to oppose government intervention in business.

David Koch will become director emeritus of Koch Industries, CNBC said.

The company was not immediately available for comment.

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Businessman David Koch arrives at the Metropolitan Museum of Art Costume Institute Gala Benefit celebrating the opening of "Charles James: Beyond Fashion" in Upper Manhattan, New York May 5, 2014. REUTERS/Carlo Allegri (UNITED STATES - Tags: ENTERTAINMENT FASHION BUSINESS HEADSHOT)
Businessman David Koch arrives at the Metropolitan Museum of Art Costume Institute Gala Benefit celebrating the opening of "Charles James: Beyond Fashion" in Upper Manhattan, New York May 5, 2014. REUTERS/Carlo Allegri (UNITED STATES - Tags: ENTERTAINMENT FASHION BUSINESS HEADSHOT)
Businessman David Koch arrives at the Metropolitan Museum of Art Costume Institute Gala Benefit celebrating the opening of "Charles James: Beyond Fashion" in Upper Manhattan, New York May 5, 2014. REUTERS/Carlo Allegri (UNITED STATES - Tags: ENTERTAINMENT FASHION BUSINESS)
EXCLUSIVE. Julia and David Koch, and their son host a party taking place at their home for the Charles Evans PCF Pro-AM TOUR 2012 Hamptons Tournament, benefiting the Prostate Cancer Foundation, in Southhampton, NY on August 18, 2012. The reclusive David Koch has a net worth of $25 billion. He is thought to have bankrolled the tea party, a connection however which he is evasive about. Strongly anti-Obama, he and his brother Charles have poured an estimated $400,000 million into the 2012 campaign. Photo by Art Seitz / ABACAUSA.COM
Businessman David Koch arrives at the Metropolitan Museum of Art Costume Institute Gala Benefit celebrating the opening of "Charles James: Beyond Fashion" in Upper Manhattan, New York May 5, 2014. REUTERS/Carlo Allegri (UNITED STATES - Tags: ENTERTAINMENT FASHION BUSINESS HEADSHOT)
U.S. businessman and philanthropist David H. Koch is seen with an unidentifed guest as he arrives for the Metropolitan Museum of Art Costume Institute Gala 2015 celebrating the opening of "China: Through the Looking Glass," in Manhattan, New York May 4, 2015. REUTERS/Andrew Kelly
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(Reporting By Aparajita Saxena in Bengaluru Editing by Saumyadeb Chakrabarty)

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