CD&R Welcomes Michael Harrington as New Risk Director
CD&R Welcomes Michael Harrington as New Risk Director
CD&R has announced the appointment of Michael Harrington as Risk Director, marking a significant step in strengthening its risk management framework. This newly created position aims to enhance strategic risk management both at a portfolio level and across the enterprise.
Michael Harrington's Distinguished Career
With over twenty years of experience in the field, Michael Harrington joins CD&R after serving as Vice President of Risk Management and Assistant Secretary at Lockheed Martin Corporation. Lockheed Martin stands as the world’s largest defense contractor, employing more than 120,000 people worldwide. During his tenure, Michael transformed Lockheed Martin's risk management strategies, integrating them into the company's overarching business strategy. His leadership led to the modern design of a Risk Management Information System, which significantly improved data management across the organization.
Innovative Contributions and Recognition
In 2020, he played a pivotal role in facilitating a coalition of risk professionals aimed at rejuvenating the national space program in collaboration with NASA and the U.S. government. His contributions to the industry and exceptional leadership qualities earned him the title of Risk Manager of the Year from The Risk and Insurance Management Society in 2021.
Prior Experience and Skill Set
Before his impactful tenure at Lockheed Martin, Michael worked as an in-house attorney at Textron Inc., where he later became the Director of Risk Management. In this capacity, he oversaw the management of an $84 million annual insurance premium budget. His expertise continued to grow during his time at Dell/EMC Corporation and Jabil Circuit, Inc., where he implemented comprehensive insurance coverage in over 44 countries. His experience encompassed large contracts with renowned brands such as Raytheon, Apple, Cisco, HP, and Sony.
A Vision for CD&R
Expressing his enthusiasm for this new role, Michael stated, "I am honored to join CD&R and do my part to support the Firm's long-term growth. I look forward to strengthening CD&R's risk infrastructure and driving strategic initiatives, ensuring the Firm continues to deliver compelling value creation plans while effectively mitigating potential risks." This commitment reflects CD&R's dedication to establishing a resilient risk management culture within its operations.
A Brief Overview of CD&R
Founded in 1978, CD&R employs a robust investment strategy that focuses on building sustainable businesses through a combination of expertise and operational capabilities. The firm partners with management teams across various industries, including healthcare, technology, consumer, and financial services, to create long-term value. With offices in major financial hubs, CD&R maintains a strong presence in both New York and London, reflecting its commitment to global business engagement.
Frequently Asked Questions
What is the role of the Risk Director at CD&R?
The Risk Director at CD&R is responsible for providing strategic risk management guidance to enhance the firm's risk management practices across its portfolio and enterprise.
What prior experience does Michael Harrington have?
Michael Harrington has over twenty years of experience, including roles at Lockheed Martin, Textron, Dell/EMC, and Jabil Circuit, where he implemented comprehensive risk management strategies and policies.
Why was Michael Harrington recognized as Risk Manager of the Year?
He received this recognition for his leadership in innovating risk management practices and his active engagement in revitalizing the national space program alongside industry and government leaders.
How does CD&R approach investment?
CD&R focuses on building strong businesses through effective operating capabilities while partnering with management to ensure sustainable growth and investment returns.
What industries does CD&R invest in?
CD&R invests in a diverse range of sectors, including industrial, healthcare, technology, consumer, and financial services, aiming for robust and sustainable business practices.
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