Akerson Named Vice Chairman Of Carlyle Group Board Of Directors
Former General Motors CEO Dan Akerson has been named Vice Chairman to the private-equity firm Carlyle Group’s board of directors, where he will act as special adviser to the firm’s investment teams, managment and the board itself.
Bloomberg reports Akerson returned to Carlyle March 1, having headed the firm’s global buyouts and co-headed the U.S. buyouts divisions prior to steering General Motors out of bankruptcy beginning in 2009. His history with the company goes back to the 1980s when Akerson was both COO and president of MCI; one of the firm’s co-founders, William Conway, was CFO at the telecommunications company.
Carlyle board chairman and co-founder Daniel D’Aniello believes Akerson’s return will prove beneficial overall to the firm:
His remarkable depth of leadership experience will be a great asset to the board and our investment teams.
Carlyle oversees $189 billion in assets, conducting leveraged buyouts in telecommunications, transportation, and health care industries among others. The firm also oversees real estate, credit and hedge funds.
Seattle-based writer, blogger, and photographer for many a publication. Born in Louisville. Raised in Kansas. Where I lay my head is home.
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Carlyle, based in DC, is perhaps the best politically connected of the private equity folks. Lately they've been buying trailer parks which is a good insight into where the economy is heading long term.
I'm reading this Akerson move as something to do with his experience/connections/know-how regarding China. Maybe I'm off base.
As the acerbic butler played brilliantly by Denholm Elliot in "Trading Places" said -- 'what a scumbag.'
Well, hopefully, Akerson will have to testify at the various congressional inquiries into the GM ignition switch hoohah. You know, so he can deny ever having heard of the problem, which is probably true since his modus operandi was to lecture rather than to listen. Perhaps he can also give the lawmakers a few tips on how to run government during his testimony. Why waste the opportunity for further lecturing? He certainly stuck Barra with a thorny problem. This is a great summary of things so far: http://mobile.nytimes.com/2014/03/18/business/gm-chief-barra-releases-video-on-recalls.html?from=business I do sense a change in attitude at GM.