The Parthenon Group Names Three New Partners; Chip Greene, Vincent Martelli And Alistair Stranack Promoted to Partner; Company Grows 30 Percent in 2000

Business Wire, Jan 31, 2001

Business Editors

BOSTON--(BUSINESS WIRE)--Jan. 31, 2001

The Parthenon Group, a strategic business advisory and principal investment firm, announced today that three new partners have been named to the company's management team. Alistair Stranack, Vincent Martelli and Chip Greene were promoted in recognition of their long-standing contributions to the firm, which surpassed 30 percent growth in 2000.

The new partners join Bill Achtmeyer, The Parthenon Group co-founder, chairman, and managing partner along with eleven other partners at the firm.

"During their tenure with the firm, Vin, Chip and Alistair have helped some of the best CEOs in the world generate significant shareholder value," said Achtmeyer. "Their addition to the management team will enable The Parthenon Group to further define a new value proposition in the CEO advisory business."

Vincent Martelli has advised CEOs and developed business strategy in the fields of natural resources, healthcare, real estate and publishing. He has participated in numerous start-up companies as an advisor and investor. Before joining The Parthenon Group, Mr. Martelli founded and served as president of Earth Solutions, a company that manufacturers and markets photo-chemical recycling equipment. Prior to starting Earth Solutions, Mr. Martelli was a certified broker with Coldwell Banker and an executive vice president at Gerber-Ellis.

Mr. Martelli holds an M.B.A from Harvard Business School and an A.B. in Economics from Harvard University. He was an All-American baseball player while at Harvard and spent two years as a player in the Cleveland Indians baseball organization. Mr. Martelli grew up in Revere.

Chip Greene has worked on growth strategies, new venture development and mergers and acquisitions in the fields of healthcare, information/media, financial services, natural resources, technology and manufacturing. In addition, he has extensive experience working with CEOs on post-merger integration and operational improvements.

Mr. Greene previously served as a consultant at Bain and Company and vice president of managed care at Total Renal Care.

Mr. Greene's undergraduate studies were completed at Dartmouth University where he graduated Phi Beta Kappa with an M.S. in Engineering. He received an M.B.A. from the Tuck School of Business at Dartmouth.

Alistair Stranack is based at the company's European office in London and brings more than twelve years of strategy consulting experience to Parthenon. He co-leads Parthenon's European operations along with Vice Chairman, Anne von Guionneau.

Mr. Stranack previously worked at Bain & Company and Farmer & Company, and was a founding partner of The Merit Partnership, a consultancy specializing in strategic support to European-based private equity firms.

Mr. Stranack has extensive experience in strategy development, acquisition support, start-up planning and integration. He has advised clients in a broad range of industries including engineering, technology, media, on-line information services and the Internet.

Mr. Stranack holds a first class honors degree in Engineering Science from Oxford University and an M.B.A. with distinction from INSEAD.

About The Parthenon Group

The Parthenon Group is a strategic advisory and principal investment firm located in London, Boston and San Francisco. The company works with chief executives across Europe and the United States on their most important strategic issues regarding valuation. The Parthenon Group pioneered at-risk advisory in 1992 through its practice of taking equity in lieu of cash fees. Founded in 1991, the company advises clients from start-ups to the global 500, and has grown to more than 150 members worldwide. www.parthenon.com