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Bill McGlashan, Founder and Managing Partner of TPG Growth, a majority shareholder of CAA and a supporter of the launch of STX Entertainment among other Hollywood entities, was placed on administrative leave by parent company TPG after being among the 46 on Tuesday indicted university bribery fraud at the national level.
McGlashan did Vanity FairA list of the 100 most influential business, political and technology leaders in 2017 as CEO of The Rise Fund, a $ 2 billion impact investment platform co-founded with Bono , Richard Branson and U2 of U2, among others. With Robert Simonds, he also helped found STX Entertainment.
In 2014, TPG paid $ 225 million in shares for a majority stake in the Hollywood agency.
"Following charges of personal misconduct against Bill McGlashan, we put Mr. McGlashan on unlimited administrative leave from now," said a spokesperson for TPG this afternoon. "Jim Coulter, co-CEO of TPG, will be the Managing Partner of TPG Growth & Growth Fund. In collaboration with the organization's leadership team, Coulter will lead all investment activities for the next two years. "
McGlashan earned his MBA from the Stanford Graduate School of Business and a BA with Distinction from Yale University, two universities grappling with the scandal that parents, through an intermediary, reportedly paid Millions of dollars in bribes to administrators and coaches of high schools like UCLA, USC, Yale, Georgetown and Stanford so that their children can be admitted.
He is one of the leading names to be charged with conspiracy to commit postal fraud and honest service fraud. Felicity Huffman, Lori Loughlin and the husband of Loughlin fashion designer Mossimo Giannulli.
McGlashan is a member of several corporate and nonprofit boards, according to TPG, including Brava, Common Sense Growth, e.l.f. Cosmetics, Endeavor Global, Fender Musical Instruments, Becker Gavin & Associates, HotSchedules, Seasoned and XOJet.
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