Private equity firm TPG said on Monday its co-Chief Executive Officer Jon Winkelried will become the sole CEO of the firm.
Jim Coulter, one of the founders of the firm who co-led TPG along with Winkelried, would take on the role of executive chairman, the company said.
Winkelried joined TPG in 2015, prior to which he worked at Goldman Sachs Inc for 27 years. He retired from the bank in 2009 as president and co-chief operating officer.
While Winkelried would oversee the day-to-day operations of TPG, Coulter would focus more on investing activities, the company said. A key area of focus for Coulter would the TPG Rise Climate, a climate fund led by Henry Paulson, a former U.S. Treasury Secretary under President George W. Bush.
David Bonderman, another co-founder of TPG, would continue in his position as chairman, the company said.
TPG was founded in 1992 and has more than $91 billion in assets under management.