Carlyle CEO Kewsong Lee steps down before contract end and Bill Conway steps in as interim CEO
Co-founder Bill Conway will hold position of interim CEO
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Carlyle, a private equity firm announced on Sunday that Kewsong Lee, the firm's Chief Executive stepped down months before the end of his five-year contract.
Carlyle released a statement in regard to Lee's departure where they said they mutually agreed to end the contract, but gave no reasoning for the early ending. Lee also stepped down as a board member of the firm.
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Kewsong Lee stepped down as Carlyle's CEO before the end of his contract. (PATRICK T. FALLON/AFP via Getty Images / Getty Images)
While the firm is looking for a new CEO, co-founder Bill Conway will be holding the role as interim CEO.
Lee joined Caryle in 2013 and served as deputy chief investment officer for corporate private equity and become the co-CEO in 2017. He held the position on his own in 2020.
Kewsong Lee worked at Warburg Pincus for 21 years before making the switch to Caryle. (Christopher Goodney/Bloomberg via Getty Images / Getty Images)
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Before he had the roles with Caryle, Lee worked for 21 years with rival firm Warburg Pincus.