The sudden loss of leadership has felled many a company, big or small. When the CEO of CCMP suddenly passed away following a short illness in 2015, many wondered who would step up and what it would mean for the company. The late Stephen Murray had been a company founder who had steered the organization to tremendous success. He had a reputation as a savvy businessman and he was an admired philanthropist in his off time. Filling his shoes was no mean feat, and there were a lot of questions as to whether CCMP would be on the decline.
Stephen Murray had been the president and CEO of CCMP from 2006 up until his passing at the young age of just 52. Murray has been with the company in all of its various incarnations and forms for decades, spanning all the way back to 1989 when the company was known as Chase Capital Partners. He helped steer CCMP to huge success, making it one of the biggest private equity firms in the world.
Murray according to institutionalinvestor served on the board of a host of major companies, including AMC Entertainment, Pinnacle Foods and Generac Power Systems. As a philanthropist and humanitarian, he was a member of the chairman’s council of the Make a Wish Foundation in New York, and he was a major supporter of the Food Bank of Lower Fairfield County.
It was Greg Brenneman who succeeded Steve Murray, becoming president and CEO of CCMP. Brenneman had previously been the CEO of companies like Quizno’s Sub and Burger King. At Burger King he had major success, helping to increase profits, generate award-winning ads and improving customer service. He had helped Burger King, not McDonald’s, score a lucrative tie-in with Star Wars 3: Revenge of the Sith.
CCMP is a massive organization. Typically, they invest up to $500 million of equity per transaction. They focus on companies in the industrial, health care, retail and energy sectors. CCMP has invested in a host of major companies, including Quizno’s, The Tennis Channel, Triad Hospitaks and Warner Chilcott.
They recently acquired Shoes for Crews, the leading maker of slip-resistant footwear in the world. CCMP also bought Milacron Holdings, which makes plastic processing systems, and helped it grow into a billion dollar business.
CCMP was able to smoothly transition to Brenneman’s style of leadership despite a lot of questions and complications. The contributions of Stephen Murray will always loom large over the company, and he will be honored by all who worked with or knew him.