Richard Zannino has joined CCMP Capital as a managing director, and co-head of the firm’s consumer, retail and media investment practice. He previously was CEO of Dow Jones, and is a former CFO for both Saks Fifth Avenue and Liz Claiborne.
CCMP Capital announced today that Richard Zannino has joined the firm as a Managing Director and a member of the firm’s Investment Committee effective July 13, 2009. Mr. Zannino will join Kevin O’Brien as co-head of CCMP’s consumer, retail and media investment efforts.
Stephen Murray, President and CEO of CCMP Capital, said, “Rich brings significant operating expertise to CCMP having served as CEO of Dow Jones, Executive Vice President of Liz Claiborne overseeing the CFO function, strategy and several operating units as well as CFO of Saks Fifth Avenue. The depth of his experience bolsters CCMP’s strategy of creating value by improving the operations of our portfolio companies.”
“Rich’s successful track record of driving business transformation and performance will be invaluable to the managers of our portfolio companies,” added Greg Brenneman, Chairman of CCMP Capital. “This is another major milestone in the execution of our plan to add seasoned operating professionals to our senior management team. Our operating talent is a key differentiator for CCMP and will prove increasingly important in generating outsized returns for our investors.”
“CCMP is committed to enhancing the operations of its businesses and I am excited to use my skills and experience to help do just that,” said Mr. Zannino. “I look forward to contributing to the successes that CCMP’s principals have had over the last two decades.”
Mr. Zannino, 50, most recently served as CEO of Dow Jones where he began a business and cultural transformation from a newspaper publisher to a more diversified media company, driven by operational improvements and $2.5 billion in acquisitions, organic growth investments, business restructurings and asset sales. These efforts resulted in eight consecutive quarters of double-digit growth in operating earnings during 2006 and 2007 and culminated in the acquisition of Dow Jones by News Corporation in December 2007.
Prior to joining Dow Jones, Mr. Zannino was Executive Vice President in charge of strategy, finance, M&A, technology, and a number of operating units at Liz Claiborne, which he joined in 1998 as CFO. In 1998, Mr. Zannino served as Executive Vice President and CFO of General Signal, where he led the sale of that company. From 1993 until early 1998, Mr. Zannino was at Saks Fifth Avenue, ultimately as Executive Vice President and CFO, where he oversaw the company’s strategy, finance, business development, merchandise planning and technology.
In addition, Mr. Zannino is a member of the board of directors of IAC/InterActiveCorp and the board of trustees of Pace University. Mr. Zannino earned an MBA degree from Pace University and a BA degree in finance and economics from Bentley College. He will be based in CCMP Capital’s New York office.
About CCMP Capital
CCMP Capital Advisors, LLC, is a leading global private equity firm specializing in buyouts and growth equity investments in companies ranging from $500 million to more than $3 billion in size. CCMP Capital focuses on five primary industries: Consumer, Retail and Services; Energy; Healthcare Infrastructure; Industrial; and Media. Selected investments include: Aramark Corporation, Edwards Limited, Generac Power Systems, Grupo Corporativo ONO, Legacy Hospital Partners, Quiznos Sub and Warner Chilcott. CCMP Capital’s founders have invested over $12 billion since 1984. CCMP Capital’s latest fund, CCMP Capital Investors II, L.P., closed in September 2007 with commitments of $3.4 billion.
CCMP Capital has offices in New York, Houston and London. Through active management, its global resources and its powerful value creation model, CCMP Capital has established a reputation as a world-class investment partner.
For more information, please visit www.ccmpcapital.com.