Louis Gerstner, chairman of The Carlyle Group, has retired from the post he has held since 2003. A successor has not been named.
Gerstner initially made a one-year commitment to Carlyle but remained on for five before stepping down to fulfill other goals and interests, he said in a statement.
“Lou joined Carlyle at a critical time in our global growth and development, helping us to institutionalise and mature key aspects of the firm,” Carlyle co-founder Daniel D’Aniello said in statement.
Gerstner will remain on with Carlyle as a senior advisor beginning 30 September. In that capacity he will advise the firm’s Asia, Europe, Japan and US buyout funds.
Prior to joining Carlyle, Gerstner was chairman and chief executive of IBM from 1993 to 2002. He is also the author of “Who Says Elephants Can't Dance?: Leading a Great Enterprise through Dramatic Change”, which chronicles the corporate turnaround of IBM under his leadership.
Carlyle has $82.7 billion (€56.3 billion) in assets committed to 60 funds for investment in buyouts, growth capital, real estate and leveraged finance across six continents.