The former boss of one of the world’s leading private equity firms is reported to have sought a pay package worth up to $300 million over five years before abruptly resigning at the weekend.
Kewsong Lee’s exit from Carlyle Group, announced late on Sunday, sent shockwaves through the global investment group. He stepped down with immediate effect, months before his first five-year term as boss was set to expire, and the firm has yet to identify a permanent successor.
He decided to depart after Carlyle’s co-founders refused to discuss his proposed remuneration for his second term, according to the Financial Times, which cited sources with knowledge of the matter and reported that the mooted share-based pay package was bound to the stock’s performance.
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