Carlyle Group CEO Kewsong Lee To Step Down; Names William Conway Interim CEO

(RTTNews) - Global investment firm the Carlyle Group Inc. (CG) said Sunday that Kewsong Lee will step down today as chief executive officer and a member of the Board of Directors. He will be available as needed to assist in a transition during the months ahead.

"With Chief Executive Officer Kewsong Lee's five-year employment agreement coming to a close at the end of 2022, both the Company's Board of Directors and Mr. Lee mutually agreed as part of their discussions that the timing is right to initiate a search for a new CEO to lead Carlyle forward in its next phase of growth," Carlyle said in a statement.

Carlyle Group has appointed William Conway, Co-Founder, current Non-Executive Co-Chairman of the Board, and former Co-CEO, to serve as Interim chief executive officer.

The company stated that its board will immediately engage an executive search firm to identify and assess candidates for the permanent CEO position.