Dive Brief:
- The Carlyle Group, a global investment firm, announced a CFO transition plan Tuesday, with 20-year company veteran Curt Buser retiring from the financial helm and John Redett — the current global head of finance — taking his place, effective Oct. 1.
- Redett is a 16-year company insider himself, having served as co-head of global financial services since 2016 and head of global financial services since 2020, according to a press release.
- The CFO transition marks the first major appointment under new CEO Harvey Schwartz, who took the top executive seat back in February.
Dive Insight:
“I am confident (Redett) is the right leader to work closely with me to further scale the firm and deliver for all our stakeholders,” Schwartz said in the company announcement.
Prior to joining the Washington and New York-based investment firm, Redett worked at Goldman Sachs from 2005 to 2007, and JPMorgan Chase from 2000 to 2005, serving a number of financial executive roles, according to his profile on Carlyle’s website. Redett will also be head of corporate strategy under his new role.
Jim Burr will be taking Redett’s place as global head of finance, the announcement said, and has been involved with the financial services team of the firm since joining the company back in 2008.
With his departure, Buser is leaving Redett with big shoes to fill — the outgoing finance chief was instrumental in the firm’s initial public offering back in 2012 and improved its reporting systems, according to the Tuesday press release.
Carlyle recently reported a drop in income from asset sales in its private equity portfolio, while also reporting $73 billion in available capital for investment, down 13% year-over-year, according to a May 4 earnings release for the first quarter ended March 31.
