The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Scientists find green way to turn CO2 into fuel with sunlight

  • 3

    BLACKPINK's contract renewal still in limbo

  • 5

    Family of 5 found dead in 3 separate locations

  • 7

    Kim Jong-un's rejection of Russia's food assistance irritates North Korean defectors

  • 9

    INTERVIEWVirtual K-pop group MAVE: is more than just pretty pixels

  • 11

    Korea boosts subsidies to rev up falling EV sales

  • 13

    All-Korean showdowns set up on 1st day of medal race

  • 15

    Disney+ aims to expand investment in original Korean content

  • 17

    Hebrew University students travel to Korea to explore musical landscape

  • 19

    Appellate court upholds 9-yr prison term for man over filming, distributing sexual videos featuring women

  • 2

    N. Korea holds politburo meeting to discuss Kim-Putin summit: KCNA

  • 4

    BTS member Suga begins mandatory military service

  • 6

    Xi says he will seriously consider visit to South Korea: official

  • 8

    Opposition party in turmoil as leader could be arrested on Tuesday

  • 10

    Foreign employees rewarded for contribution to Korea's shipbuilding industry

  • 12

    Russia lodges protest to S.Korean envoy over Yoon's UN speech

  • 14

    Lawmakers want to grill business tycoons over decision to rejoin FKI

  • 16

    Arrest warrant hearing for DPK leader Lee to be held Tuesday

  • 18

    Yoon signs off on plan to waive expressway tolls during Chuseok holiday

  • 20

    Gov't reviews changing description of Fukushima wastewater

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
Sun, September 24, 2023 | 21:36
Companies
Carlyle CEO Kewsong Lee's sudden resignation draws attention
Posted : 2022-08-09 16:25
Updated : 2022-08-10 12:00
Anna J. Park
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
Former Carlyle Group CEO Kewsong Lee / Courtesy of the Carlyle Group
Former Carlyle Group CEO Kewsong Lee / Courtesy of the Carlyle Group
By Anna J. Park

Carlyle Group Chief Executive Kewsong Lee, 56, stepped down from his post earlier this week, drawing market attention to his sudden resignation.

The renowned Korean-American CEO's departure from his post came several months prior to the official termination of his five-year term, which is slated for the end of this year. Lee had also stepped down from the firm's board as well.

The Carlyle Group ― one of the top global private equity firms, along with KKR and Blackstone ― said in its statement that the firm's co-founder, Bill Conway, will serve as interim CEO during their search for a new candidate for the position.

Although no official explanation is offered by the Washington, D.C.-based private equity firm over Lee's departure, U.S.-based media outlets reported that Lee's exit was mainly due to the failure of his negotiations with the company's board over a new contract.

Due to the news of Lee's abrupt resignation, the private equity firm's stock price fell by 6.23 percent, ending at $35.29 at Monday's closing. Carlyle has $376 billion of assets under management, as of the end of June this year.

Lee was appointed to serve as the co-CEO of the PE firm in 2018, and had been a sole CEO since September 2020. He joined Carlyle in 2013 as a deputy chief investment officer (CIO), after his previous work at McKinsey and Warburg Pincus for over two decades.

Born in 1965, he earned his A.B. in Applied Mathematics in Economics from Harvard College, after graduating from Choate Rosemary Hall in Connecticut. He went on to study at the Harvard Business School, receiving his MBA degree in 1990.

With Lee taking the helm at the giant PE firm, Carlyle had been increasing its investments into Korean companies, including KB Financial Group, Kakao Mobility, Hyundai Glovis and Twosome Place.


Emailannajpark@koreatimes.co.kr Article ListMore articles by this reporter
 
miguel
Top 10 Stories
1Understanding Korean Modernization Understanding Korean Modernization
2Bears of Joseon part 1: Fanciful tales and deadly claws Bears of Joseon part 1: Fanciful tales and deadly claws
3Exhibition for soldiers highlights North Korea's human rights abuses Exhibition for soldiers highlights North Korea's human rights abuses
4Sil-A overcomes stage fright, and them some Sil-A overcomes stage fright, and them some
5Korea, Saudi Arabia celebrate 93rd Saudi National Day, vow stronger cooperation Korea, Saudi Arabia celebrate 93rd Saudi National Day, vow stronger cooperation
6Bears of Joseon part 2: Behind bars Bears of Joseon part 2: Behind bars
7Mirae Asset Global Investments' AUM reaches $219 bil. Mirae Asset Global Investments' AUM reaches $219 bil.
8JTI Korea joins Jongno clean-up JTI Korea joins Jongno clean-up
9Samsung, SK relieved by revised chip restrictions on ChinaSamsung, SK relieved by revised chip restrictions on China
10CKD Kochon Foundation awards Ukraine health authorities for treating tuberculosis patients amid raging war CKD Kochon Foundation awards Ukraine health authorities for treating tuberculosis patients amid raging war
Top 5 Entertainment News
1TEMPEST gears up to showcase fiery passion TEMPEST gears up to showcase fiery passion
2[INTERVIEW] Yim Si-wan went extra mile to portray legendary athlete in 'Road to Boston' INTERVIEWYim Si-wan went extra mile to portray legendary athlete in 'Road to Boston'
3BLACKPINK's contract renewal still in limbo BLACKPINK's contract renewal still in limbo
4[INTERVIEW] Virtual K-pop group MAVE: is more than just pretty pixels INTERVIEWVirtual K-pop group MAVE: is more than just pretty pixels
5Hebrew University students travel to Korea to explore musical landscape Hebrew University students travel to Korea to explore musical landscape
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group