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Former Ford CEO Joins New Company


Mark Fields, the former CEO of Ford who was ousted earlier this year after 28 years at the automaker, will join TPG Capital as a Senior Advisor, Business Insider has learned. TPG is a private-equity and alternative asset giant with over $73 billion in assets under management and was started as the Texas Pacific Group in 1992 by David Bonderman, James Coulter, and William S. Price III. TPG has grown substantially from its first offices in Northern California to locations worldwide. Over the decades, it has invested in numerous companies and participated in high-profile leveraged buyouts. Fields, 56, will focus on expanding the firm's industrials practice. Investments in this sector have included airlines and private-jet companies; going forward, TPG wants to invest in logistics, packaging, and mobility. TPG's first major investment was in bankrupt Continental Airlines in 1993, which according to firm resulted in a 1,000% return. "New technology is driving change and creating opportunities for growth and value creation throughout business operations. That gives us the opportunity to rethink traditional industrial applications, such as supply chains , like never before,"

Added on the 17/10/2017 17:00:56 - Copyright : Wochit

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