Heidrick & Struggles International, Inc. (ticker: HSII, exchange: NASDAQ) News Release - 18-Oct-1999
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Futurestep's Quandt Named Chief Operating Officer for Heidrick's LeadersOnline
IRVINE, Calif.--(BUSINESS WIRE)--Oct. 18, 1999--LeadersOnline(tm) (LOL), Heidrick & Struggles International's Internet-based online recruiting initiative, announced today the appointment of James R. Quandt, formerly Chief Operating Officer of Korn/Ferry International's Futurestep, as LeadersOnline's Chief Operating Officer, a new position reporting to LeadersOnline President Michael T. Christy.
"We are delighted to have Jim as part of our team," Christy said in announcing the appointment. "LeadersOnline's momentum is building rapidly, and our addition of Jim Quandt increases our management strength significantly as we move aggressively to provide high quality Internet recruiting solutions for our clients."
Quandt joined Korn/Ferry in 1998 and shortly afterward became Managing Director of its Irvine/Orange County region. He was named COO of Futurestep in June 1999. Previously, he was President, Chief Executive Officer and Vice Chairman of National Telephone & Communications, Inc. and Chairman of Bridge Information Systems. Prior to that time, he was President of Standard & Poor's Financial Information Services, a division of McGraw-Hill, Inc., and held senior management positions with Security Pacific Bank.
Quandt said, "Having been intimately involved in the evolution of the e-Cruiting industry, I am convinced that LeadersOnline will be the dominant player in our industry. Heidrick & Struggles has committed the powerful marketing force of its 750 professionals worldwide to providing its vast client base with comprehensive, Ecommerce-enhanced recruiting for the finest middle management and emerging executive talent available globally."
In a joint statement with Heidrick & Struggles President and Chief Executive Officer Patrick S. Pittard, Christy also announced that LeadersOnline now has contracts representing an aggregate value of $5.7 million with clients including Sun MicroSystems, USWeb/CKS, Visa International, MyHealthSource.com, Organic Online Inc., Washington Mutual, 2nd Century Communications and NetBase Corp.
Christy and Pittard said LeadersOnline has been made a separate and distinct subsidiary of the parent firm "as an initial step in examining its capital structure alternatives." Christy added, "We are now in a position to more fully implement our Internet strategy, and there will be many more developments in the near future, as we develop a total Web-based solution for managing human capital."
LeadersOnline is an Internet-based online recruiting business for middle management professionals. LeadersOnline delivers the only end-to-end online recruiting service to meet the mission-critical needs of its clients. LeadersOnline launched its marketing initiative in August 1999, leveraging the unsurpassed access and influence of Heidrick & Struggles' 750 professionals worldwide. Heidrick & Struggles International, Inc. (Nasdaq: HSII), is the world's leading executive search firm, with more than 65 locations around the globe.
For more information, please visit our websites at www.leadersonline.com and www.heidrick.com.