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CCMP Capital Appoints Brenneman as Chairman
Private equity firm poaches its portfolio company’s CEO, known for turnaround plays.
August 19, 2008
CCMP Capital will see Greg Brenneman, currently the chief executive of sandwich chain Quiznos, join its ranks as chairman and investment committee member at the end of next month, it announced.
The private equity shop counts Quiznos among its many consumer portfolio companies, though most investments in that space have been realized for CCMP. The firm also holds investments in healthcare, energy, industrials and media/telecom companies.
“CCMP has always focused on creating value by improving our portfolio companies’ operations and not just through financial engineering,” said Stephen Murray, president and CEO of CCMP Capital. “Greg’s success as a hands-on CEO who has turned around companies of the same size as those we target underscores this approach.”
Brenneman will continue to serve as executive chairman of Quiznos, CCMP’s statement said. Prior to joining the toasted sandwich maker, Brenneman was chairman and CEO of Burger King, president and CEO of PwC Consulting and president and operating chief of Continental Airlines. Each of these companies saw Brenneman emerge among their ranks in the midst of a turnaround process. He also serves on the boards of The Home Depot and Automatic Data Processing.
When Brenneman leaves, Dave Deno, Quiznos’ president, will assume his role there.
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