Gary Crittenden, former chief financial officer of Citigroup Inc., will take Robert Gay’s place as chief executive and managing partner of Huntsman Gay Global Capital, a private equity firm with offices in Salt Lake City, according to CNN.
Crittenden has been the CFO of Huntsman Gay since July 2009. He served in the same position for companies like Citigroup, American Express and Sears, Roebuck & Co. prior to joining Huntsman Gay.
Gay has stepped down in order to serve as a member of the First Quorum of the Seventy of The Church of Jesus Christ of Latter-day Saints.
The former CEO co-founded the private equity firm with Jon Huntsman Sr., founder of Huntsman Corp. Global Capital added notable partners, like NFL Hall of Famer Steve Young and Gay’s successor Crittenden.
Gay will continue to advise the equity firm he helped start and make co-investments.
Dan Primack, author of the CNN article, offered up his opinions on Gay’s departure to accept the church position.
“Gay's was called to a position titled First Quorum of the Seventy,” Primack said in the article. “It makes him one of the church's top elders, and I'm told it's the sort of thing that you don't really turn down if asked. Of course, you're probably only asked if you're the type of person that wouldn't turn it down — so it's kind of circular.”