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-0.000173852573018046 0 0.000521557719054262 -0.000782336578581393 -0.000347705146036216 -0.00173852573018083 -0.00173852573018083 -0.00173852573018083
Stock impact report

Carlyle's next gen needs to be more than its CEO [Reuters]

Apollo Global Management, Inc. (New) (APO) 
Last apollo global management, inc. (new) earnings: 5/1 07:00 am Check Earnings Report
US:NYSE Investor Relations: apollo.com/shareholders/overview
Company Research Source: Reuters
But what's left of executing his blueprint will fall into someone else's hands. The firm said Sunday that Lee had stepped down, effective immediately, before the end of his five-year contract. The setback in its leadership transition turns the screws on Carlyle's next generation – and its founders, too. The private equity firm opened its doors in 1987, a year before KKR's (KKR.N) infamous deal to buy RJR Nabisco. Along with other leveraged buyout shops like Blackstone and Apollo Global Management (APO.N) , Carlyle blazed the path for private equity. Founders of other firms, including KKR's Henry Kravis and Apollo's Leon Black, all led them until recently. Steve Schwarzman still sits atop the $123 billion Blackstone, the largest of its competitors by market capitalization. Lee was the start of a transition away from the people who opened Carlyle's doors. He took up his role in 2018 alongside co-head Glenn Youngkin. In July , Youngkin stepped down, and later won a bid to become Virg Show less Read more
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