Former Dow Jones CEO Richard Zannino has joined private-equity firm CCMP Capital Advisors. Zannino will be part of CCMP’s investment committee and will share leadership duties for its consumer, media and retailing practice. He started his new job this week.
Zannino left his post in December, after Dow Jones’ sale to News Corp closed. According to Michael Wolff’s bio of Rupert Murdoch, Zannino met with the News Corp (NYSE: NWS). head early on in his tenure to discuss the purchase plans.
Before coming to Dow Jones in Feb. 2006, Zannino was EVP in charge of strategy, finance, M&A, technology, at fashion label Liz Claiborne, which he joined in 1998 as CFO.
WSJ describes Zannino’s new home as a New York buyout firm with $10 billion under management. In signing on to CCMP, Zannino told the WSJ that private equity seemed like a natural next step for him. The firm was previously known as J.P. Morgan Partners. Its parent J.P. Morgan Chase & Co. spun off the unit three years ago. Release
By David Kaplan