Greg Brenneman has agreed to join CCMP Capital as chairman and a member of the firm's investment committee, effective September 30. He currently is CEO of sandwich chain Quiznos, where he will stay on as executive chairman. Prior to Quiznos, Brenneman served as CEO of Burger King.
CCMP Capital announced today that Greg Brenneman has been appointed Chairman and a member of CCMP's Investment Committee effective September 30, 2008.
Greg Brenneman, 46, is best known for turning around companies and accelerating their growth. Brenneman is currently CEO of Quiznos, one of the nation's premier quick service restaurant chains, where he has built a world-class management team and implemented a focused growth strategy. Brenneman's experience partnering with private equity firms dates back to the early 1990's and his successes include helping to lead the transformations of Continental Airlines, PwC Consulting and Burger King.
“We are pleased to have Greg Brenneman join our team,” said Stephen Murray, President and CEO of CCMP Capital. “This is a significant milestone in our firm's development and a natural extension of our relationship with Greg, which began with our investment in Quiznos. CCMP has always focused on creating value by improving our portfolio companies' operations and not just through financial engineering. Greg's success as a hands-on CEO who has turned around companies of the same size as those we target underscores this approach. It's telling that each of the companies Greg has been involved with has continued to thrive and prosper for many years.”
“As Chairman, Greg will be an active, full-time partner working side by side with the other Investment Committee members and with me. He will help develop portfolio company strategies, complete transactions, and most importantly, he will mentor portfolio company managers,” continued Murray.
“I am very proud to be joining Steve and the terrific team at CCMP,” said Brenneman. “CCMP has the dual benefit of being a relatively new organization founded as an independent entity in 2006 and having a legacy of many years of impressive results as JPMorgan Partners.”
Brenneman commented, “I have worked closely with Steve and the team at CCMP over the past two years and I have a deep appreciation for their values, their culture and their vision for the future. Professionally for me, evolving from being an active day-to-day CEO of an operating business to making a meaningful contribution to a company as a private equity owner and investor is a transition I have been looking forward to for some time.”
Mr. Brenneman will continue to serve as Executive Chairman of Denver-based Quiznos. Over the past decade, Mr. Brenneman has served as Chairman and CEO of Burger King, President and CEO of PwC Consulting and President and COO of Continental Airlines. In each case he led talented management teams in the transformations of these companies to deliver impressive financial results and investor returns, innovative products and attractive working environments.
In addition, Mr. Brenneman serves on the Board of Directors of The Home Depot and Automatic Data Processing (ADP). He is based in The Woodlands, Texas.
In a separate press release, which follows below, Quiznos announced today that President Dave Deno will become President and CEO as of September 30, 2008.
About CCMP Capital
CCMP Capital Advisors, LLC (“CCMP Capital”), 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's founders have invested over $12 billion since 1984 in five primary industries: Consumer; Retail and Services; Energy; Healthcare Infrastructure; Industrials; and Media and Telecom. Selected investments include: Aramark Corporation, Edwards Limited, Generac Power Systems, Grupo Corporativo ONO, Hanley Wood, Legacy Hospital Partners, Quiznos and Warner Chilcott. 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 and London, and is affiliated with CCMP Capital Asia which has offices in Australia, China, Japan and Korea. 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.