Joel Thickins to remain TPG Asia co-head after driving conviction
Make us a preferred source
Make us a preferred source on Google
The news: Global private equity firm TPG has decided to keep Joel Thickins as partner and co-head of Asia. This follows his guilty plea in a Sydney court to negligent driving and refusing a breath test, alongside a third-party internal investigation that found a series of separate workplace allegations to be ’entirely without merit’.
The context: In addition to court-mandated penalties, TPG has taken what it described as “appropriate disciplinary action” against Thickins, Bloomberg reported. The company said an independent investigation by law firm Debevoise & Plimpton found no systemic pattern of misconduct.
The investigation also concluded that allegations relating to TPG portfolio company Novotech Australia were “unsubstantiated and meritless” after reviewing tens of thousands of documents and interviewing relevant parties, the company said.
The findings follow Thickins’ guilty plea in a Sydney court on Tuesday to negligent driving and refusing a breath test following a five-car collision in the city’s eastern suburbs in June.
TPG said the investigation’s findings, together with Thickins’ acceptance of responsibility, cooperation with investigators and previously clean disciplinary record, supported its decision to retain him as partner and co-head of Asia.
What they said: “With the investigation now complete and the legal proceedings concluded, our focus is now on moving forward and supporting the continued success of our strong Asia franchise,” TPG said in a statement.
The sources: Bloomberg, TPG statement
