Item 5.02 - Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 19, 2022, Linda Pace informed Carlyle Secured Lending, Inc. (the
"Company"), that effective December 31, 2022, she would step down as the
Company's Chief Executive Officer. Ms. Pace also informed the Company that she
intends to continue to serve in her current capacity on the Company's Board of
Directors (the "Board") and as the Chair of the Board.
Ms. Pace joined Carlyle Group ("Carlyle" or the "firm"), the parent of the
Company's investment adviser, in 1999 and was instrumental in the firm's
expansion into credit. In addition to playing a leadership role in growing
Carlyle's CLO business for 20 years, Ms. Pace helped expand the firm's credit
platform into new areas including illiquid credit. She has provided tremendous
leadership to the firm over the decades, including in her most recent role as
CEO of the firm's business development companies. Carlyle and the Board are
thankful to retain her counsel and experience through her continued involvement
as the Board's Chair.
The Board intends to appoint Aren LeeKong as the Company's Chief Executive
Officer, effective January 1, 2023, when Ms. Pace steps down as Chief Executive
Officer. Mr. LeeKong, 46, is currently a Director of the Company and Carlyle
Credit Solutions, Inc. and a Trustee of Carlyle Secured Lending III, business
development companies managed by Carlyle Global Credit Investment Management
L.L.C. or an affiliate thereof.
On September 20, 2022, Taylor Boswell informed the Company that effective
immediately he was resigning from the Board and as Chief Investment Officer of
the Company to pursue other interests. Concurrent therewith, Mr. Boswell
informed the Company that he would continue as the Company's President through
December 31, 2022. Mr. Boswell has made significant contributions leading the
transformation of Carlyle's Direct Lending business, which have resulted in
meaningful improvements in investment and business performance. Carlyle and the
Board thank him for his efforts and wish him the best for the future.
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