New York, NY – September 20, 2006 – Centerview Partners announced that James M. Kilts, Vice Chairman of the Board-Gillette, The Procter & Gamble Company (NYSE: PG) and former Chairman, Chief Executive Officer and President of The Gillette Company, will join the firm as a founding partner to help build its private equity effort.
Centerview Partners will initially focus its investment activities in consumer-oriented companies, capitalizing on the firm’s network and expertise in the sector and Mr. Kilts’ 35-year career in consumer products. It will look for investments with primary operations in the U.S. where it can bring strategic and operational improvements and tap Mr. Kilts’ experience turning around world-class branded companies such as Gillette and Nabisco.
“My career has been focused on building brands, and this is an opportunity to build brands in various sectors,” said Mr. Kilts. “Operational improvements will be our key focus. Centerview Partners will have operational and financial expertise to build companies, brands and management teams.”
Centerview Partners, based in New York, is a recently launched firm specializing in independent advice and other client services founded by Stephen Crawford, formerly Co-President, Morgan Stanley, Blair Effron, formerly Vice Chairman, UBS, and Robert Pruzan, formerly Chief Executive Officer of Dresdner Kleinwort Wasserstein North America and President of Wasserstein Perella & Co. The new firm will capitalize on the experience of its principals and will provide senior-level counsel to both domestic and international clients. Members of the firm have experience in a range of industries including the consumer products, financial services, food and beverage, general industrial and retail sectors.
“I’m excited to work with the Centerview Partners team,” said Mr. Kilts. “My partners have the three qualities I look for: intelligence, energy and integrity.”
Mr. Kilts’ primary focus will be the private equity fund, but will engage in select strategic advisory services for the firm’s clients.
“We are thrilled to have someone of Jim’s caliber join us,” the three partners said in a statement. “To have one of the most successful CEOs of the last 25 years as a partner will bring a unique strategic and operational perspective to our firm.”