What Murray Death Means to CCMP

On March 15 2015, Steve Murray, former president and CEO of the New York-based CCMP Capital died at the young age of 52. The company that would one day become CCMP was founded in 1984. He joined the team at the firm on Fortune back in 1989 when it was known by other names. By 1996, it was called Chase Capital Partners and later JPMorgan Partners. In 2006, CCMP became independent from JPMorgan with Murray becoming its CEO the following year. It would be a vast understatement to say that Murray was a valued asset to CCMP.

Stephen Murray was instrumental in helping CCMP to become the largest private equity firm in the world. Just a few months before his departure and then untimely death, Murray helped the firm raise $3.6 Billion for a fund. He led the firm to invest millions in promising new companies and promising veteran companies that had remained small. Its concentration has always remained in the consumer, industrial, healthcare, and energy industries. Stephen Murray left the company due to health-related causes, and the next month he passed away.

He was succeeded as company president and CEO by Greg Brenneman on bloomberg.com. Brenneman already had an impressive history of head of several companies. He was began his career immediately after graduating from Washburn University in Topeka, Kansas, which he had attended with several great honors. He later went on to further study by earning an M.B.A. from Harvard Business School. In June 2002 he was made president and CEO of PwC Consulting. From 2004 to 2006 he served as the CEO of the Burger King corporation. He later become the president and COO of Continental Airlines. Brenneman had up to that time been the CEO and president of the CCMP fast-food chain, Quiznos.

All of the facts around Murray’s departure from CCMP were mostly shrouded in secrecy with him only citing health-related causes as his reason for resigning. Even less information was given to the media and public. Whatever the case, his name was removed from the firm website within just 10 days. Stephen Murray CCMP Capital was such a huge part of the firm’s success that many insiders still remain sure that Brenneman can ever attain such greatness. Time will tell if their fears are unfounded. Regardless, the world of private equity had a huge loss with Murray’s death. Considering his extremely impressive resume, if anyone can live up to Murray’s great professional work, it is Brenneman.

Learn more about Stephen Murray: http://observer.com/2015/02/this-old-thing-private-equity-honcho-drops-little-place-uptown-for-11m/

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