CD&R hires former ADD head as partner

Fred Kindle, former president and chief executive officer of ABB, a UK supplier of electrical and automation equipment, has been made a partner in the private equity firm Clayton Dubilier & Rice (CD&R).

His portfolio includes four years leading ABB and achieving a substantial turnaround in core operating sales and profitability. Prior to ABB, Kindle served from 1999 to 2004 as president and chief executive of global industrial engineering and manufacturing company Sulzer.

Donald J. Gogel, chief executive officer of CD&R, said: “Europe is an important market for Clayton, Dubilier & Rice. We believe that our success working on large global divestitures across a range of industries and building value by improving long-term business performance aligns well with the opportunities to help large, global companies reshape their portfolios. We are pleased to welcome Fred to the firm.”