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Carlyle CEO Resigns in Sudden Reversal of Generational Shift

  • Sole CEO since 2020, Lee had been trying to diversify revenue
  • Co-founder Conway to be interim chief during successor search
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WATCH: Carlyle CEO Kewsong Lee has stepped down, with co-founder Bill Conway set to take his place during the search for a successor.Source: Bloomberg
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Carlyle Group Inc. Chief Executive Officer Kewsong Lee stepped down, reversing a changing of the guard set in motion just five years ago when founders of the private equity giant ceded leadership to a new generation. The stock dropped as much as 6.3%.

His sudden exit, announced late Sunday, follows tensions with the company’s old guard and a stretch in which Carlyle’s shares trailed its peers. Co-Founder Bill Conway, currently the non-executive co-chairman, will step in as interim CEO during the search for a successor.