Clayton, Dubilier & Rice has hired AG Lafley, former chairman, president and chief executive officer of The Proctor and Gamble Company, as a “special partner” to provide advice to the firm’s full-time operating partners.
Two other firms – Advent International and The Carlyle Group – have also added to their roster of senior advisers this week.
Lafley has had a 32-year career at P&G, including nine years as president and chief executive officer. He joins a bench of high-profile operating partners at CD&R which includes industry titans such as former chief executive officer of General Electric Jack Welsh, former president and chief executive of Swiss engineering firm ABB Fred Kindle and former chief executive of British aviation company Roberto Quarta.
Lafley praised the power of private equity in a statement. “Private equity can be a powerful agent of constructive change and corporate renewal,” he said, going on to add CD&R exemplified the “positive role that private equity can play in the economy”.
The Carlyle Group, meanwhile, has hired Robert Essner, the former chief executive officer and chairman of global pharmaceuticals giant Wyeth, as a senior advisor to its healthcare group. Essner will provide guidance to Carlyle’s healthcare team on both deal sourcing and portfolio company management.
Last week saw Advent International bring Will Kussell, former president of fast food chain Dunkin’ Donuts, into its “operating partner programme”. Kussell will advise the firm on global investment opportunities in the retail and consumer sector. “We look to our operating partners to help us better understand industry dynamics and provide insights from their experiences as leaders in their industry,” said David Mussafer, Advent’s managing partner and North American head, in a statement.