[Asia Economy Reporter Changhwan Lee] Korean-American CEO of global private equity firm Carlyle Group, Kyu Sung Lee, abruptly resigned just months before the end of his term.
On the 7th (local time), according to U.S. media including The Wall Street Journal (WSJ), Carlyle announced that CEO Kyu Sung Lee had stepped down. His term was set to expire at the end of this year.
Carlyle also stated that Lee resigned from the board of directors. Bloomberg, citing sources, reported that Lee and the board recently clashed over his contract.
Lee was appointed CEO in October 2017 by co-founders David Rubenstein and William E. Conway Jr.
He co-led Carlyle Group's innovation as co-CEO alongside Glenn Youngkin starting in 2018, and served as sole CEO from 2020 onward.
CEO Lee is the son of the late Professor Hakjong Lee, former dean of Yonsei University’s College of Business. He majored in economics and applied mathematics at Harvard University and earned an MBA from the same institution’s business school.
After completing his master’s degree at Harvard, he worked at consulting firm McKinsey and private equity firm Warburg Pincus. During his 21 years there, he oversaw various investments and corporate acquisitions before joining Carlyle Group in 2013.
While at Carlyle, Lee is reported to have simplified the company’s structure and streamlined its private equity business. He also actively invested in Korean companies such as KB Group, Kakao Mobility, and Hyundai Glovis.
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