So-called "Celeb CEOs" who court the media spotlight, enjoy the trappings of corporate life and are not used to being second-guessed should steer well clear of private equity backed buy-outs.
Writing in a special report in today's Financial Times, Lord Hollick, former head of United Business Media and now a senior European executive of buy-out group Kohlberg Kravis Roberts, warned bosses used to wielding "quasi-imperial powers and supported by a pliant bureaucracy" they can expect a "rude awakening" if they move into private equity.
"Executives should leave their ego at the door and prepare to answer tough questions from private equity executives often less than half their age but with formidable intellects."
