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Former FCC Chairman Makes Lucrative Leap to Private Sector Former FCC Chairman Makes Lucrative Leap to Private Sector

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Former FCC Chairman Makes Lucrative Leap to Private Sector

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(Getty Images North America)

Julius Genachowski, former chairman of the Federal Communications Commission, begins his first day of work Monday at a D.C.-based private-equity behemoth, the Carlyle Group.

Genachowski will help run the U.S. buyout team in his first major post-FCC role, the firm announced Monday. He will focus on technology, media, and telecom investments.

 

"Deep industry specialization is core to our investment strategy, and Julius brings a wealth of knowledge and experience to these sectors. His judgment about how these sectors will evolve will be invaluable to us," said Pete Clare, co-head of the U.S. buyout team, in a statement.

The former FCC chairman follows in the footsteps of a long line of prominent politicians, including former President George H. W. Bush and Secretary of State James Baker, who took lucrative private-sector jobs with the Carlyle Group after departing public service.

After leaving the agency in May, Genachowski was a fellow at the Aspen Institute, a nonpartisan think tank, and taught a joint course at Harvard's Business and Law schools.

 

During his FCC tenure, Genachowski opposed the merger of AT&T and T-Mobile and advocated for expanded broadband access across the country. Genachowski spent more than a decade in the private sector as tech executive and venture capitalist before his appointment to head the FCC in 2009 by President Obama.

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