Carlyle names chairman

Louis Gerstner is to become chairman of the Carlyle Group effective January 7, 2003. In this capacity, Gerstner will commit around 20 per cent of his time providing strategic guidance on Carlyle’s global business activities, giving management input to Carlyle portfolio companies and serving on the committees that review and approve Carlyle’s global investments.

Frank Carlucci, who joined Carlyle in 1989 as vice chairman and became chairman in 1993, will become chairman emeritus.

Gerstner has been chairman of IBM since 1993 and served as chief executive officer of IBM from 1993 until March 2002. He will retire as chairman of IBM at the end of the year.