Louis V. Gerstner, chairman of The Carlyle Group since 2003, will step down from the top post and become a senior advisor to Carlyle’s Asia, Europe, Japan, and U.S. buyout funds, effective Sept. 30. A successor has not been named.
Carlyle co-founder Daniel A D’Aniello said in a statement, “As Lou reduces his overall role, we are grateful that he will move into a Senior Advisor position focusing on our major buyout funds.”
Gerstner said, “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. 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.”
Gerstner previously served as chairman of IBM from 1993 to December 2002 and CEO of IBM from 1993 until March 2002.