A native of Cincinnati,[2] Krone earned a bachelor's degree in aerospace engineering from Georgia Institute of Technology[3][4][5] where he also became interested in flying airplanes.

[3] In 1981, Krone earned a master's degree in aerospace engineering from University of Texas at Arlington and in 1986 an MBA from Harvard Business School.

[4][5] In 1992 Krone joined McDonnell Douglas where he worked as director of financial planning and became vice president and treasurer of the company.

[6][4] In November 2023, Krone was selected as president and CEO of Boy Scouts of America, the first new CEO after the organization had emerged from bankruptcy in the wake of the $2.46 billion trust fund set aside for victims of Boy Scouts of America sex abuse cases.

[7][8] One of his first initiatives as CEO was to preside over the rebranding of BSA as Scouting America in recognition of the more than 176,000 girls and young women active in the program having been opened to both genders in 2017.