Deals
Carlyle Details Multimillion-Dollar Pay Packages for New CEOs
- Youngkin, Lee will get a base salary of $275,000 each
- Pair were named as co-CEOs Wednesday, replacing co-founders
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Carlyle Group LP will hand its incoming co-chief executive officers bonuses and stock that will add several million dollars to their annual base salary of $275,000.
Glenn Youngkin and Kewsong Lee will take the reins at Washington-based Carlyle when current co-CEOs David Rubenstein and Bill Conway step down on Jan. 1, the firm announced Wednesday. According to a filing Friday with the U.S. Securities and Exchange Commission, each will be paid a cash bonus equal to 2.5 million times the distributions Carlyle makes to common stockholders.