Less than two weeks after announcing his exit from the Nielsen Company, media veteran Michael Marchesano has joined media investment banking firm Jordan, Edmiston Group, Inc. as managing director.
At JEGI, Marchesano will focus on the firm’s M&A advisory practice to the business information sector, including a number of companies providing data-driven products and services and marketing solutions, the firm says in a statement.
Two weeks ago, Marchesano announced he was resigning at the end of the month as chief transformation officer at Nielsen Company.
He was promoted to the newly-created position two months after the $9.7 billion acquisition of VNU in June 2006 by a consortium of private equity firms called Valcon Acquisition B.V. The late Robert Krakoff succeeded Marchesano as CEO.
While a memo to Nielsen employees from chairman and CEO David Calhoun said Marchesano made the first move, some sources believe he was pushed out. "I suspect (strongly) that he was pushed out because there is no role for him," says one source.
However, another source said Marchesano had been considering the move for a while. "With the transformation job, he probably realized that wasn’t what he wanted to do for the rest of his life. It pulled him away from publishing. Transformation is purely leveraging suppliers and cost cutting."