Carlyle names former Goldman Sachs exec Harvey Schwartz as CEO, effective Feb 15

Carlyle Group Inc.

Harvey Schwartz appointed CEO and board member effective Feb 15, 2023; Bill Conway returns to Co-Chairman role.
Employment terms: $1M base salary, $3M target bonus, $180M inducement equity ($108M PSU, $72M RSU) tied to stock price hurdles.
Make-whole compensation up to $19.5M cash + $3.1M donor-advised fund for forfeited awards from prior employer.
Severance: 1.5x base+bonus (2x in change of control), plus prorated bonus and healthcare for 18 months.
Schwartz previously served as President and Co-COO of Goldman Sachs from 1997.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Harvey M. Schwartz

Chief Executive Officer

CG · Carlyle Group Inc.

Effective: 2023-02-15
Filed: February 6, 2023, 6:59 PM ET

the Board of Directors of the Company (the "Board") has appointed Harvey M. Schwartz as Chief Executive Officer of the Company and a member of the Board, effective February 15, 2023.

Role change

Bill Conway

Co-Chairman of the Board

CG · Carlyle Group Inc.

Effective: 2023-02-15
Successor: Harvey M. Schwartz
Filed: February 6, 2023, 6:59 PM ET

Bill Conway will step down as Interim Chief Executive Officer, maintaining his role as Co-Chairman of the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Harvey M. Schwartz was appointed as Chief Executive Officer at Carlyle Group Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

the Board of Directors of the Company (the "Board") has appointed Harvey M. Schwartz as Chief Executive Officer of the Company and a member of the Board, effective February 15, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Bill Conway changed role as Co-Chairman of the Board at Carlyle Group Inc..

Action: stepped down
Role: Co-Chairman of the Board

Exact text from the filing

Bill Conway will step down as Interim Chief Executive Officer, maintaining his role as Co-Chairman of the Board.

View on SEC.gov

Carlyle Group Inc. filing history →

Source: SEC EDGAR

accession 0001527166-23-000007

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