Smitham leaves Permira

His departure comes after Permira's former chairperson and managing partner Damon Buffini announced his decision to leave the GP at the end of the year, after 27 years with the firm.

Smitham joined the GP in 1985 when it was known as Schroder Ventures. He was named managing partner of the UK business in 1994, a position he held until 1998. During that time he led the integration of the European business, which he headed up from 1995 until 2000.

Smitham has been gradually stepping back from leading positions at the GP for several years now. He stepped back from the partnership in 2011 and has since had two main focuses: coaching younger investment professionals including current co-managing partners Kurt Björklund and Tom Lister, as well as overseeing Permira's investment in Freescale.

Smitham currently sits on the board of the business, which announced in March that it would merge with NXP Semiconductors in a $40bn deal. Following completion of the deal, Smitham will take a seat on the group's board as non-executive director.

Smitham has been heavily involved in Permira's investment in Freescale, which took place in 2006 – prior to joining Permira, he spent 20 years in the electronics industry.

He remains non-executive director of Africa-, Asia- and Latin America-focused private equity firm Actis. He also serves on the board of Atlantic Philanthropies, a global charitable foundation.

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