Kewsong Lee, Young's co-CEO, who has been with The Carlyle Group since 2013, will take over as chief executive when Young departs later this year.Private-equity firm The Carlyle Group said on Tuesday that its co-CEO Glenn Youngkin will step down in September after 25 years with the firm.
In a statement, Young said he's interested in pursuing opportunities in public service "as the world continues to face so many challenges today."Private-equity firm The Carlyle Group said on Tuesday that its co-CEO Glenn Youngkin has decided to step down in September after 25 years with the firm. Youngkin and Lee were both tapped to take over as co-CEOs by Carlyle cofounders David Rubenstein and William Conway in 2018. Now, less than three years after his appointment, Youngkin will officially retire from the firm on September 30.
"It has been the professional journey of a lifetime and my honor to be part of building Carlyle into the global institution it is today," he added.
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