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."

By Dan Beyers  |  August 19, 2008; 11:32 AM ET
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Yes, this "remarkable organization" of war profiteers that make money off the deaths of millions from the Neocon-Fascist imperialist wars OF terror, imperialism, torture and genocide. Their blood lust for blood money knows no bounds.

When you think about the military industrial complex, it's really not all that complex, just think of Carlyle and you have half of the equation. Then think of dick Cheney, and you have the other half.

Posted by: KEVIN SCHMIDT | August 19, 2008 12:39 PM

The nutroots have spoken...

Posted by: MK67 | August 19, 2008 12:55 PM

In recent years Carlyle sold almost all of the defense cotractors they owned. Today they are a very different company than they originally were when they used former government leaders like George H.W. Bush and John Major to serve as rainmakers. This diversification actually ended up hurting them when the credit crisis occured.

Posted by: yaya | August 19, 2008 1:30 PM

Good work if you can get it. They have mode lots of money from the ol'war....for a select few....that have contacts. Bravo!! What was that a few months ago in the Post?...their "investors" expect 25 percent APR returns on Carlye investments....thats greed and a money shell game.

Posted by: nowhine | August 19, 2008 2:27 PM

It never ceases to amaze me the neo communists that are the foundation of readers (and to some extent writers) of the Post. Clueless is a kind description. Carlyle litterally has hundreds of funds. Each with a specific focus such as Telecom, Bio Tech, Healthcare, Manufacturing, and Aerospace and Defense. This "money game" as one of the morons calls it gives needed capital to companies looking to expand. That is what we call the free market. If the companies didn't need the capital, they wouldn't be involved with Carlyle, if the companies did not have a product or service that you and I feel like paying for, they would not exist for long. Since many investments do not deliver the returns desired, there is a "risk" premium and yes, investors want this premium. And of course, people willing to take that risk will get significant financial rewards if those investments pay off.

Now consider the most recent largest contributors to the Obama campaign, the poster childeren of failure on Wall Street who will benefit from a bail out of the financial industry. Who is the industrial complex? It is government and the buraucrats in Washington (of both parties)who continually under perform, deliver no value yet never take a pay cut nor will consider reducing or eliminating totally ineffective programs.

The only Neo-Facists here are the government officials and Democrats who define a static budget as a "cut", Who's definition of "fairness" or free speach is only if it agrees with them. Talk about Orwellian, we are way there.

Posted by: Slainte1 | August 19, 2008 5:05 PM

The only Neo-Facists here are the government officials and Democrats who define a static budget as a "cut", Who's definition of "fairness" or free speach is only if it agrees with them. Talk about Orwellian, we are way there.

Posted by: Slainte1 | August 19, 2008 5:05 PM

Democrats are Neocon-Fascists???

You don't know the definition of the word Fascist.

If inflation increases, then the dollar is worth less. That is why a static budget is a cut.

The rest of your rant is just nonsense.

Posted by: KEVIN SCHMIDT | August 19, 2008 6:33 PM

Let's hope that he doesn't come back to IBM and transfer another billion dollars of corporate funds into his personal piggybank.

Posted by: Linda | August 19, 2008 7:27 PM

If you think this firm has changed from war profiteering and pure access to power, taking vast amounts from Middle Eastern and Chinese investors, look harder. Is the Bin Laden family still a limited partner?

Posted by: bombing4dollars | August 19, 2008 8:28 PM

"Clueless is a kind description. Carlyle litterally has hundreds of funds."

Let me guess....your one of the greedy wonderkids with some stupid MBA? Your choice of the word moron when you disagree with a person, says bounds about yourself.

Fact is, THEY said their investors expect a minimum 25 percent return, each year on ALL investments. So how do you build a company that gives that kind of return? Who makes products that get that much better each year?

They buy a company, sell off the parts to make money for investors....thats what they do. Has any company they owned done better after being bought? Doubt it.

One of their funds failed big time recently....more will come as you can only cut something into so many pieces and the market saturates. The pyramid will fall down.

Posted by: nowhine | August 19, 2008 10:22 PM

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