Boston-based private equity firm Advent International has hired Proctor & Gamble veteran Werner Geissler as an operating partner, effective January 1, 2015, according to a statement from the firm.
Geissler has worked for Proctor & Gamble for 30 years, taking up his first role with the company after he graduated from the University of Cologne in Germany. Most recently Geissler was vice-chairman of global operations for the consumer goods giant: in this role, he was responsible for all country operations globally, overseeing around $80 billion in sales and more than 100,000 employees, according to Advent.
At Advent, Geissler’s main role will be to assist the firm’s retail, consumer and leisure team with identifying investment opportunities and generating post-investment value in the firm’s portfolio companies.
During his time at Proctor & Gamble, Geissler worked with a number of the company’s well-known brands, including Ariel, Gillette, Max Factor and Oral-B, as well as many major retailers across the world. Prior to his role as vice-chairman, Geissler was group president of Central and Eastern Europe, Middle East and Africa, managing all businesses throughout the regions.
“His substantial operational experience, gained from working with a large number of different companies and brands during his time at P&G, will support our existing businesses as well as help us pursue future investment opportunities across the global consumer industry,” Advent International managing director Tim Franks said of Geissler in a statement.
Founded in 1984, Advent focuses on growth and buyout transactions in the business and financial services, healthcare, industrial, retail, consumer and leisure, and technology, media and telecoms sectors. Since inception, it has invested in more than 290 buyout transactions across 39 countries, and now has €23.4 billion in assets under management.
According to the firm, in 2013 Advent generated a firm record $7.8 billion in proceeds through 22 full and partial exits. ABC Supply, Domestic & General and Oxea were three of the biggest exits for Advent during this period, PEI reported earlier.
Advent did not respond to a request for further comment at press time.