Gerstner Steps Down As Carlyle's Chairman
The Carlyle Group said Louis V. Gerstner, Jr. is retiring as chairman, a post the former IBM chairman held since January 2003. A successor was not named.
Gerstner will become a senior advisor to Carlyle's Asia, Europe, Japan and U.S. buyouts funds, effective Sept. 30.
"Initially, I committed to be Chairman of Carlyle for one year. But year after year I continued to be impressed with Carlyle's value creation model and its efforts to globalize the firm," Gerstner said in a statement. "However, at this point in my life, I have a number of goals and interests yet to fulfill, requiring me to step back at Carlyle. That said, I am pleased to continue my relationship with this remarkable organization in this more focused role advising Carlyle's buyout funds."
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