Dorman Joins Warburg Pincus

NEW YORK -- Warburg Pincus, the global private equity firm, today announced that David W. Dorman, formerly Chairman and CEO of AT&T, will join the firm as a Senior Advisor. He will be based in the firm’s Menlo Park office.

Mr. Dorman will consult across the Warburg Pincus global network and will work closely with the Warburg Pincus Technology, Media & Telecommunications (TMT) group.

“I’ve been familiar with Warburg Pincus for more than 10 years and been impressed both with its ability to attract talent and its prescient abilities to identify emerging trends and invest behind them,” Mr. Dorman said, citing BEA Systems, LCI, NeuStar and Bharti Tele-ventures as a few examples. “By comparison to most private equity firms, I’m also attracted by the fact that there’s a blend of early stage and more traditional, late-stage buy-out activities. The money goes where the opportunity is, not just in one particular category. It’s natural for me to join a firm with such a broad-based portfolio and global presence. “

Prior to his role at AT&T, Mr. Dorman was CEO of Concert, the global venture created by AT&T and British Telecommunications. His career in telecommunications began in 1981 as a Sprint employee and by 1990 he was president of the company. In that role, Mr. Dorman managed businesses that grew from $5 million to $4.5 billion in revenue and oversaw 10,000 employees. He became the youngest chief executive officer of a Bell operating company when, in 1994 at age 39, he was named CEO of Pacific Bell. As Chairman, president and CEO, he led an $11 billion business with 50,000 employees serving 10 million households and 1 million business customers.

Mr. Dorman became an executive vice president of SBC Communications when it acquired Pacific Bell. He was responsible for strategic planning, long distance and the company’s Internet business. He left SBC to serve as Chairman, president and CEO of PointCast, an Internet-based news and information service, before becoming CEO of Concert.

Appointed to AT&T’s Board of Directors in February 2002, Mr. Dorman also serves on the boards of CVS Corporation, Motorola, Inc., YUM! Brands, Inc., the Georgia Tech Foundation and the Woodruff Arts Center in Atlanta.

Commenting on Mr. Dorman’s arrival, Warburg Pincus Co-President Joseph P. Landy said: “Having been the Chairman and CEO of a Fortune 50 company and the CEO of an entrepreneurial start-up, Dave brings a blend of the experiences that are important to Warburg Pincus, where we’re focused on investing in businesses that build sustainable value over time.”

Mr. Landy added: “Whether it is a start-up telecommunications company, a growth stage business or a global enterprise, Dave’s ability to spot opportunities and assist management teams will be a great asset for the firm.”

Warburg Pincus