After the failure of co-CEOs Glenn Youngkin and Kewsong Lee, the Carlyle Group is trying a threesome Presidency.
Chief Financial Officer John Redett, credit head Mark Jenkins and client business head Jeff Nedelman will become the company's co-presidents, effective January 1, 2026.
The triumvirate will serve under CEO Harvey Schwartz. Also, Carlyle's public face (other than co-founder David Rubenstein) will get a step up.
Admiral James Stavridis, the former Supreme Allied Commander at NATO and Carlyle's vice chair of global affairs, will become the company's vice chairman.
Doomberg recently noted the strain on private equity underwriters (PEU) as they bottom feed on HVAC companies, veterinary and dental clinics and youth sports leagues. Just what you want in your 401(k).
The greed and leverage boys may think their games can go on forever, especially under Trump II, the digital Caligula. Time will prove them right or wrong.
Will any of the three co-Presidents become political candidates, like Virginia Governor Glenn Youngkin? Politicians Red and Blue love PEU and increasingly, more are one.