LONDON â€" The European private equity firm Apax Partners on Thursday named Andrew Sillitoe and Mitch Truwitt as co-chief executives beginning in January.
They will replace Martin Halusa, who took over as chief executive from the firm’s founder Ronald Cohen in 2003. Dr. Halusa, 58, will become the firm’s chairman and will retire at the end of the investment period for a $7.5 billion fund raised earlier this year.
“Apax’s partnership model and consensus driven approach have served the firm and all of its stakeholders extremely well over the past three decades, and I believe Andrew and Mitch are well-qualified and experienced to lead and inspire the next generation of Apax,†Dr. Halusa said.
Mr. Sillitoe, 41, is a partner in the firm’s technology and telecommunications team. A former consultant at LEK, he has been involved in a number of investments, including a deal by funds advised by Apax to acquire Orange Switzerland in 2011.
Mr. Truwit, 44, is a partner in the Apax Services team and has worked on deals, including Bankrate, which Apax took public in 2011. He was the former president and chief executive of Orbitz Worldwide and the former chief operating officer of priceline.com.
