Carlyle CEO Kewsong Lee resigns in sudden reversal of generational shift

Kewsong Lee's sudden exit, announced late Sunday, reverses a changing of the guard set in motion just five years ago when Carlyle's founders ceded leadership duties to a new pair of co-heads

Carlyle Group Inc. said Chief Executive Officer Kewsong Lee stepped down, a setback to the private equity giant’s bid to navigate a generational transition during a period of market turbulence. 

His sudden exit, announced late Sunday, reverses a changing of the guard set in motion just five years ago when Carlyle’s founders ceded leadership duties to a new pair of co-heads. That arrangement didn’t last. 

Lee, 56, became the sole boss in September 2020 after a power tussle that led to co-chief executive Glenn Youngkin leaving. Now, Lee’s exit has come as a surprise to many executives too. With his