Providence Equity Announces Leadership Transition Plan
Founder and CEO Jonathan Nelson to Become Executive Chairman in January 2021
Davis Noell and David Phillips Named Senior Managing Directors and Co-Heads of North America
Andrew Tisdale and Karim Tabet Named Senior Managing Directors and Co-Heads of Europe
Providence Equity Partners (“Providence”), a premier private equity firm that specializes in the media, communications, education, software and services industries, has announced a leadership transition plan, under which Chief Executive Officer Jonathan Nelson, who founded Providence over 30 years ago, will become Executive Chairman in January 2021. In this new role, he will remain actively involved in the firm, including serving as Chairman of Providence’s Investment Committee and continuing to provide strategic and investment guidance to the leadership team. As part of this planned transition, Providence has made the following new leadership appointments, effective immediately:
*Davis Noell, who joined Providence in 2003 and is currently a Managing Director based in the New York office, has been named Senior Managing Director and Co-Head of North America. Noell currently serves on the boards of The Chernin Group, DoubleVerify and Smartly.io, and previously served on the boards of GLM, OEConnection, Stream Global Services, SunGard Data Systems and World Triathlon Corporation.
*David Phillips, who joined Providence in 2005 and is currently a Managing Director based in the Providence office, has been named Senior Managing Director and Co-Head of North America. Phillips currently serves on the boards of Blackboard, GlobalTranz, n2y, TimeClock Plus and Vistage, and previously served on the boards of Archipelago Learning, Ascend Learning, CSDVRS, PADI and Vector Solutions.
*Karim Tabet, who joined Providence in 2002 and is currently a Managing Director based in the London office, has been named Senior Managing Director and Co-Head of Europe. Tabet currently serves on the board of Bitė and previously served on the boards of Digiturk, Com Hem, Casema, Crown Media International and Galileo Global Education.
*Andrew Tisdale, who joined Providence in 2008 and is currently a Managing Director based in the London office, has been named Senior Managing Director and Co-Head of Europe. Tisdale currently serves on the boards of Ambassador Theatre Group, Chime Communications, CloserStill Media and HSE24, and previously served on the boards of Clarion Events, M7 and ONO.
All four will join Providence’s Investment Committee. In addition to these new appointments, Managing Director Michael Dominguez will serve in the newly created role of Chief Investment Officer. Peter Wilde will remain on Providence’s Investment Committee and will continue to serve as Chairman of Providence Strategic Growth.
Additionally, London-based Senior Managing Director John Hahn, who has been with Providence for over 20 years and is the head of Providence’s London office, has retired from the firm.
“We are fortunate to have such a deep team at Providence and are proud of our strong culture, which, over our 30-year history, has helped us attract and develop tremendous investment and leadership talent,” said Nelson. “As we enter our fourth decade as a firm, it is a natural time to elevate these four talented professionals, each of whom has distinguished himself through outstanding contributions to our business. We all look forward to continuing to forge lasting partnerships with talented entrepreneurs and executives, adding sustainable value to our portfolio companies and delivering superior returns to our investors.”
Nelson added, “Over his two decades at the firm, John has made countless contributions to our evolution and progress, including overseeing many successful investments. We appreciate his leadership in helping build a world-class team in Europe that is positioned for long-term success. We are grateful for his hard work and dedication.”
About Providence Equity Partners
Providence is a premier global private equity firm with more than $49 billion in capital under management. Providence pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm's inception in 1989, Providence has invested in more than 200 companies and is a leading equity investment firm focused on the media, communications, education, software and services industries. Providence is headquartered in Providence, RI, and also has offices in New York and London. For more information, please visit www.provequity.com