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Carlyle chairman Louis Gerstner, Jr steps down19/08/2008. Source: AltAssets. 
 The Carlyle Group chairman Louis V Gerstner, Jr is to step down from the post which he has held since January 2003. He will become a senior advisor to Carlyle's Asia, Europe, Japan and US buy-out funds. A successor has not been named, according to the firm.
Carlyle co-founder Daniel A D'Aniello said, 'Lou joined Carlyle at a critical time in our global growth and development, helping us to institutionalise and mature key aspects of the firm. As Lou reduces his overall role, we are grateful that he will move into a senior advisor position focusing on our major buy-out funds.'
Gerstner added, 'Initially, I committed to be chairman of Carlyle for one year. But year after year I continued to be impressed with Carlyle's value creation model and its efforts to globalise the firm. However, at this point in my life, I have a number of goals and interests yet to fulfil, requiring me to step back at Carlyle.'
Prior to Carlyle, Gerstner was chairman and CEO of IBM, until 2002.
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