Heidrick & Struggles International, Inc. (ticker: HSII, exchange: NASDAQ) News Release - 27-Jun-2000
--------------------------------------------------------------------------------
Heidrick & Struggles Announces Key Appointments as Part of Change in Organizational Structure
CHICAGO--(BUSINESS WIRE)--June 27, 2000--Heidrick & Struggles International, Inc. (Nasdaq: HSII), the world's largest and premier executive search firm, today announced several key appointments as part of an enhanced organizational structure that better reflects its transition from a traditional executive search company to a global source for total human capital management solutions.
Effective immediately, the global parent company - Heidrick & Struggles International (HSI Group) - will function as a holding company for its various business units. HSI Group will retain the same executive management and board of directors, including Gerard R. Roche as Senior Chairman. In addition to serving as President and Chief Executive Officer, Patrick S. Pittard has been elected Chairman of the Board.
"As we grow beyond the scope of traditional executive search, through the creation and acquisition of new and complementary businesses, we have chosen to design an organizational structure that is better suited to our goal of becoming the premier provider of total human capital management for our clients. The new structure will better equip us to focus our business units on their core competencies and to maintain brand integrity for the Heidrick & Struggles name," Pittard said. "In addition, we have assembled a team of seasoned executives from both inside and outside the company to assume leadership positions in our newly structured organization."
As part of the enhanced organizational structure, David C. Anderson has been appointed President and Chief Executive Officer of Heidrick & Struggles Executive Search. Anderson was formerly President-Americas of Heidrick & Struggles and was responsible for both North America and Latin America. He will continue to have primary responsibility for the Americas. A 20-year executive search veteran, he joined the company in 1992.
Piers Marmion has been appointed Chief Operating Officer of Heidrick & Struggles Executive Search and President of the International segment, a region comprising Europe, Africa, the Middle East and Asia Pacific. Marmion joins Heidrick & Struggles following a decade at Spencer Stuart, including six years as Chief Operating Officer of the firm worldwide, and head of Europe and Asia.
Dr. Jurgen B. Mulder has been appointed Chairman of Heidrick & Struggles Executive Search. Formerly, Mulder was President of the company's International operations. Prior to joining the company in 1997, he was a partner in Mulder & Partner GmbH & Co. KG., a firm he founded in 1978. It was acquired by Heidrick & Struggles in 1997. "After leading our European business through our merger and driving the business to the #1 position in Europe, Jurgen now will have global influence on our core business," Anderson said.
Heidrick Ventures - a unit responsible for future initiatives, incubators and start-ups, which will include corporate development, alliances, investments, the company's warrant program and H&S Capital - will also operate under HSI Group. Thomas J. Friel has been appointed President of Heidrick Ventures. Formerly President-Global Practices, Friel has served the company in various positions since 1979, including Worldwide Practice Managing Partner for the International Technology Practice and Managing Partner for Asia Pacific. He will work closely with Anderson, Marmion and Mulder to identify an appropriate successor to lead the Global Practices.
Additional units under HSI Group include LeadersOnline, the company's Internet-based recruiting business, and corporate support functions such as finance, human resources, information technology and legal.
Also today, the company announced the creation of the Office of the CEO, a team of senior operating management who will serve as the architects of firm-wide strategy. They will meet regularly to review business performance as well as to develop and refine operational plans within the business units. Initially, the Office of the CEO will include Pittard - as CEO of HSI Group - plus Anderson, Friel, Marmion and Donald M. Kilinski, Chief Financial Officer of HSI Group.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International is the world's largest and premier executive search firm, specializing in chief executive, board of directors and senior level management assignments. Today, nearly 900 Heidrick & Struggles professionals serve a broad range of organizations including Fortune 500 companies, financial institutions, major health care organizations, universities and not-for-profit organizations, leading mid-cap companies, and emerging growth companies from offices in more than 70 locations throughout North and South America, Europe, the Middle East, Africa and Asia Pacific. For more information about Heidrick & Struggles, visit our web site at www.heidrick.com.
Safe Harbor Statement
Certain matters discussed in this news release are forward-looking statements that are necessarily dependent upon assumptions, estimates and data that may be incorrect or imprecise, and include known and unknown risks, uncertainties and other important factors that could cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Some of the risks, uncertainties, assumptions and factors that could affect the company's financial results are included in the company's recent SEC filings. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. All forward-looking statements in this news release are expressly qualified by these cautionary statements, and the company expressly disclaims any duty to update such forward-looking statements.
CONTACT: Heidrick & Struggles
Jennifer Silver (media)
404/572-0019
jsilver@heidrick.com
or
Lynn McHugh (analysts)
312/496-1593
lmchugh@heidrick.com