2002 Archives

One Equity Partners LLC names Jacques Nasser Senior Partner, Chairman of Polaroid

DETROIT -- One Equity Partners LLC announced today that former Ford Motor Company CEO Jacques Nasser has joined the private equity business of Bank One Corporation as a Senior Partner.

Nasser, 54, will work with One Equity professionals to help identify, evaluate and implement direct equity investments in various industries around the world.

"Jac brings a wealth of global knowledge, experience and integrity to the One Equity Partners team," said Richard Cashin, Chairman of One Equity. "He has demonstrated superb skill in managing global relationships and complex operations, and in making and integrating bold acquisitions."

Nasser also will become the Non-Executive Chairman of Polaroid Corporation, the instant-imaging company based in Waltham, Mass. An affiliate of One Equity acquired Polaroid's business in July 2002 following the company's voluntary bankruptcy filing in 2001.

"Jac will work closely with the management team and Board to develop and commercialize new, digital-printing technologies and to continue the pride that has been the heritage of the globally recognized Polaroid brand," Cashin said.

Nasser currently serves on the International Advisory Board of Allianz AG,and on the Board of Directors of News Corporation's British Sky Broadcasting Group.

"I am excited to join the outstanding team at One Equity," Nasser said. "I am confident that we can continue to identify companies with solid growth prospects and strong leadership, and that together we can generate attractive returns."

Nasser will work closely in the Detroit office with Senior Partner Lee Gardner, who had been President and Chief Operating Officer at MascoTech, Inc. "It will be great to work with Jac again," Gardner said. "His leadership experience at a major global corporation adds to our expertise at One Equity Partners."

In addition to Detroit, One Equity Partners LLC has offices and investment professionals in New York, Chicago and Frankfurt.

Nasser joined Ford's Board of Directors in 1998, and became President and Chief Executive Officer shortly thereafter. His 33-year career with Ford covered a variety of positions and assignments including senior leadership responsibilities in Europe, Australia, Asia and South America. He also oversaw the growth and acquisition of Jaguar, Aston Martin, Volvo, Land Rover and Hertz.

RELEASED BY ONE EQUITY PARTNERS