Carlyle Group, a global investment firm, has appointed William Conway as the firm’s interim CEO. The decision follows the announcement of former-CEO Kewsong Lee‘s departure.

William Conway is a co-founder and current non-executive co-chairman of the board and former co-CEO with the firm. A newly-formed search committee has been tasked with finding a permanent successor for Carlyle’s CEO.

“The Board is grateful to Kewsong for everything he has done to position Carlyle for the future,” commented Conway. “As Carlyle undertakes this process to select a new leader, we do so from a position of strength, a testament to the performance of our talented team. Today, Carlyle is a more diversified, resilient firm with the resources to continue to invest in accelerating our growth trajectory. Looking ahead, our objective remains to execute on our vision of enhancing scale, speed, and performance in order to grow and deliver sustainable results, in any investment environment.”