Carlyle Co-CEO Youngkin to Exit, Leaving Lee in Sole Control
- Youngkin to leave at end of September, focus on public service
- The pair rose to co-lead the $217 billion firm in early 2018
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Carlyle Group Inc. co-Chief Executive Officer Glenn Youngkin is stepping down after less than three years at the helm, handing sole control of the private equity giant to Kewsong Lee in the midst of the coronavirus pandemic.
Youngkin, 53, who joined Carlyle in his 20s and was long groomed by its founders, decided to give up his post and will depart at the end of September to focus on public service, the firm said in a statement Tuesday.