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Richard F. Zannino joins CCMP Capital

CCMP Capital has appointed Richard Zannino as a managing director and a member of the firm’s investment committee, effective 13 July 2009.

CCMP Capital has appointed Richard Zannino as a managing director and a member of the firm’s investment committee, effective 13 July 2009.

Zannino (pictured) will join Kevin O’Brien as co-head of CCMP’s consumer, retail and media investment efforts.

Stephen Murray, president and chief executive of CCMP Capital, says: ‘Rich brings significant operating expertise to CCMP having served as chief executive of Dow Jones, executive vice president of Liz Claiborne overseeing the chief financial officer function, strategy and several operating units as well as chief financial officer of Saks Fifth Avenue. The depth of his experience bolsters CCMP’s strategy of creating value by improving the operations of our portfolio companies.’

‘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,’ says Zannino. ‘I look forward to contributing to the successes that CCMP’s principals have had over the last two decades.’

Zannino, 50, most recently served as chief executive 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 USD2.5bn 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.

Zannino is a member of the board of directors of IAC/InterActiveCorp and the board of trustees of Pace University. He will be based in CCMP Capital’s New York office.

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