Deals
Carlyle's Billionaire Founders Hand Reins to New Leaders
- Rubenstein, Conway will step back as co-chief executives
- ‘Pivotal milestone’ addresses succession concerns: analyst
Changing Of The Guard At Carlyle
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Carlyle Group LP’s billionaire founders are handing their 30-year-old firm to new leaders, marking the first major transition among today’s giant private equity firms.
David Rubenstein and Bill Conway will cede their roles as co-chief executive officers to Glenn Youngkin and Kewsong Lee on Jan. 1, Washington-based Carlyle said Wednesday. Rubenstein and Conway will be co-executive chairmen, while Dan D’Aniello, the third founder, will become chairman emeritus and remain on Carlyle’s board.