Billionaire Paul Allen has changed investment managers, his holding company, Vulcan, announced today.
Chris Temple, vice president of Vulcan Capital, is now president “responsible for overall management of Vulcan Capital’s investment activities, which include direct investing in public and private securities as well as indirect investments in traditional and alternative asset classes,” the release said.
Lance Conn, the former president, is stepping down after five years with Vulcan and moving to be closer to family in California.
Allen’s spokesman said the changes have nothing to do with the $21 billion bankruptcy of Allen’s biggest investment, Charter Communications. He noted that Conn will continue to serve on Charter’s board.
Conn had been planning for some time to relocate and it was his decision to leave, spokesman David Postman said.
Temple joined Vulcan last September. He was formerly managing director of Tailwind Capital, a New York-based private equity firm.
Here’s Allen’s quote in the press release:
“I am very pleased with Chris’ appointment as president of Vulcan Capital. Chris is an exceptional talent and has proven a valuable member of our team since joining us last summer. I appreciate Lance’s significant contributions to Vulcan and respect his desire to relocate with his family and step back from his current role.”