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Carlyle Group names two co-CEOs as founders step back

Carlyle co-CEOs to become co-executive chairmen of the Washington-based firm's board


Carlyle Group LP said on Wednesday that Glenn Youngkin and Kewsong Lee would become its co-chief executives, in the US private equity firm's biggest shake-up since it was founded by David Rubenstein, William Conway and Daniel D'Aniello 30 years ago. The move makes Carlyle the latest buyout firm to take steps toward a generational change, after peer KKR & Co LP said in July it would promote Joseph Bae and Scott Nuttall to co-presidents and co-chief operating officers, setting them up as successors to its founders Henry Kravis and George Roberts. Unlike with KKR, however, ...

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First Published: Thu, October 26 2017. 01:14 IST