Carlyle Chairman Gerstner to retire
NEW YORK (Reuters) - Carlyle Group CYL.UL, one of the world's largest private equity firms, said on Tuesday Chairman Louis Gerstner will retire and become a senior adviser to the company's buyout funds.
Gerstner, who held the post from January 2003, said in the statement he had a number of goals and interests yet to fulfill "requiring me to step back at Carlyle."
Prior to his role at the Washington, D.C.-based firm, he was chairman of U.S. computer services and software group IBM (IBM.N), where he was widely credited with turning around the computer giant during the nine years he led the company.
Prior to that, Gerstner was chairman and chief executive of RJR Nabisco for four years, after an 11-year career at American Express Co (AXP.N).
Carlyle did not identify a successor, but said it expects to name one in the near future.
The company has a history of employing former senior government officials. Former U.S. Deputy Defense Secretary Frank Carlucci held the post before Gerstner took over.
Carlyle said Gerstner would advise the group on its buyout funds in Asia, Europe, Japan and the United States. He will take on that role at the end of September.
Carlyle has about $83 billion of assets under management and invests in buyouts, real estate and leveraged finance globally.
(Reporting by Megan Davies; Editing by Brian Moss and Daniel Trotta)
