Former GM CEO Akerson returns to Carlyle as vice chairman

Akerson’;s ties to Carlyle date back to the 1980s.

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March 14, 2014 – 10:17 am ET

NEW YORK (Bloomberg) — Carlyle Group LP named Dan Akerson, who stepped down as CEO of Common Motors Co. in January, to the function of vice chairman of the board of directors and specific adviser.

Akerson joined Carlyle March 1 in the private-equity firm’s Washington headquarters and will give operational, investment and management advice to the investment teams, company management and the board, Carlyle stated these days in a statement.

Akerson, 65, worked at Carlyle as its head of international buyouts and co-head of U.S. buyouts before joining GM in 2009 as a government representative to the board after its rescue by the U.S. His romantic relationship with Carlyle dates to the 1980s, when he was president and COO of MCI Communications Corp., the telecommunications company in which William Conway was chief monetary officer. Conway in 1987 founded Carlyle with Daniel D’Aniello and David Rubenstein.

Akerson, a U.S. Navy veteran, grew to become CEO of GM in 2010 and helped shepherd the automaker by way of its final many years of government ownership, such as overseeing its original public providing. He stepped down from his part in January to take care of his wife, Karin, who’s battling cancer. He was succeeded by Mary Barra.

“His remarkable depth of leadership expertise will be a excellent asset to the board and our investment teams,” D’Aniello, chairman of the Carlyle board, stated in the statement.

Carlyle oversees $ 189 billion in assets. The firm began as a group acquiring parts of aerospace and defense businesses and grew to do leveraged buyouts of organizations in telecommunications, transportation, buyer, retail, overall health care and vitality. It also oversees genuine estate, credit and hedge funds.

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