Daily News: July 31, 2012

Private Equity Firm Names GE Exec Senior Operating Partner

Private equity firm Clayton, Dubilier & Rice (CD&R) announced the appointment of John Krenicki, Jr., vice chairman of GE and the president and chief executive officer of GE Energy, as a senior operating partner based in New York effective January 2013.

Krenicki also served as a member of GE’s Corporate Executive Council and the GE Capital Board of Directors.

In his new role at CD&R, Krenicki will join the firm’s team of senior operating executives who are responsible for leading initiatives to help portfolio companies increase top-line growth, improve operating efficiency and build strong management teams, as well as identify and evaluate new investment opportunities.

“John is a gifted leader with an impressive record of taking on corporate transformations and driving operational improvement on both the cost and revenue sides of a business,” said Donald J. Gogel, chairman and chief executive officer of CD&R. “His proven skills in operational efficiency, product innovation, international marketing, sales force effectiveness, geographic expansion, and talent management are a perfect fit with CD&R’s value creation model that is based on helping businesses perform better.”

“I look forward to adding my experience to CD&R’s already considerable business-building skills,” said Krenicki. “The firm’s strong values, distinctive combination of investment judgment and operating acumen, and its willingness to take on complex corporate transformations represent a compelling professional opportunity that was frankly too good to pass up.”