- Finnegan and Mencoff will serve as chairman and senior advisor to MDP, respectively
- John Canning, who led MDP until 2007 and subsequently served as chairman, will transition to chairman emeritus
- Sullivan co-founded MDP in 1992 and Souleles joined MDP in 1995
Tim Sullivan and Tom Souleles have officially begun their tenure as co-CEOs at Madison Dearborn Partners, as of today.
Sullivan and Souleles have served as co-presidents of MDP since May 2022. They are both succeeding Paul Finnegan and Sam Mencoff as co-CEOs.
Finnegan and Mencoff will serve as chairman and senior advisor to MDP, respectively.
John Canning, who led MDP until 2007 and subsequently served as chairman, will transition to chairman emeritus.
“Tim and Tom have played an integral role in shaping our firm and culture while overseeing our successful investment strategy over the past 25-plus years, and we are excited to see the firm’s next chapter under their leadership,” said Finnegan and Mencoff in a statement. “It has been an honor to lead MDP as co-CEOs as the firm has grown significantly, while supporting some of the most innovative companies. With Tim and Tom’s leadership and support from some of the industry’s brightest talent, MDP remains well-positioned for continued success and we look forward to remaining part of the team as we transition into our new roles.”
Sullivan co-founded MDP in 1992 and most recently led MDP’s healthcare team.
Souleles joined MDP in 1995 and most recently co-led MDP’s basic industries team.
Based in Chicago, MDP has raised aggregate capital of over $28 billion.