Heidrick & Struggles International, Inc. (ticker: HSII, exchange: NASDAQ) News Release - 09-Aug-2001
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Heidrick & Struggles Elects Piers Marmion as Chief Executive Officer
David Anderson Named Chief Operating Officer
CHICAGO, Aug. 9 /PRNewswire/ -- Heidrick & Struggles International, Inc. (Nasdaq: HSII), the world's premier executive search and leadership consulting firm, today announced that Piers Marmion has been elected Chief Executive Officer by the company's Board of Directors. Marmion has been serving as Chief Operating Officer of Heidrick & Struggles Executive Search and President of the Heidrick & Struggles business outside the Americas. He will succeed Patrick S. Pittard, who is currently Chairman, President and Chief Executive Officer. Pittard will retain the duties of Chairman of the Board. David C. Anderson, currently Chief Executive Officer of Heidrick & Struggles Executive Search, was named Chief Operating Officer of Heidrick & Struggles International, Inc.
Marmion is a member of both the Heidrick & Struggles Board of Directors and the Office of the CEO, a team of senior operating management who serve as the architects of firm-wide strategy. He joined Heidrick & Struggles in 2000 following ten years with Spencer Stuart, including six as Chief Operating Officer of that firm worldwide and head of Europe and Asia. Prior to that, Marmion was Founding Director and Deputy Managing Director of NB Selection for Norman Broadbent International.
"Because Heidrick & Struggles is viewed as the gold standard for CEO searches, we made certain we applied the same rigor to our own process. As part of that process, we considered potential CEO candidates from both inside and outside the company. Piers has demonstrated the leadership success, operational experience and global perspective that will be a competitive advantage for the firm," said Carlene M. Ziegler, Chair of the Heidrick & Struggles International Board of Directors Nominating and Board Governance Committee. "Furthermore, we are grateful to Pat for his leadership through the firm's impressive financial growth, global expansion, and the initial public and follow-on offerings. His continued wise counsel as Chairman is invaluable to the company."
Marmion's and Anderson's new roles are effective October 1, 2001.
"I feel greatly honored to have been asked to lead the firm during the next phase of its development," said Marmion. "We have the best brand in the industry, the most significant community of talent in one place in our sector, a global network, unmatched access to senior decision makers, and an extraordinary inclination to push ourselves toward improvement and innovation. These qualities equip us uniquely for the future."
Marmion also commented on Anderson's appointment. "In our talent pool is a manager and businessman of great skill and a person of unrivaled generosity and integrity, David Anderson. He and I will weld the top management team together and, although detailed plans and structures will have to wait until early October, David will hold the most significant operational role in the firm as Chief Operating Officer."
Anderson is a 21-year veteran of the executive search industry. He joined Heidrick & Struggles in 1992 as Office Managing Partner of the company's Dallas office. Since then, he has held numerous management positions within the company, including Managing Partner for North America and President - Americas. He is a member of both the Heidrick & Struggles Board of Directors and the Office of the CEO.
In explaining the management changes Pittard said, "I expressed to the Board an interest in moving on to the next phase of my career some time ago and, subsequently, our in-place succession process moved into a higher gear. While the economy is very challenging, our fundamentals have never been stronger and I am certain Piers will be an outstanding CEO."
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International, Inc. is the world's premier provider of executive-level search and leadership consulting services. More than 1,000 Heidrick & Struggles professionals operate from offices in over 75 locations throughout North and South America, Europe, the Middle East, Africa and Asia Pacific. For nearly 50 years, our core business -- Heidrick & Struggles Executive Search -- has specialized in chief executive, board member and senior-level management assignments for a broad spectrum of clients: multi- national corporations, mid-cap and start-up companies, nonprofit entities, educational institutions, foundations, associations and governmental units. We are expanding our range of complementary services to offer solutions to senior management teams for their human capital needs. LeadersOnline, our Internet- enhanced recruiting business, serves clients who seek the next generation of corporate leaders. We are capitalizing on our access and influence with the highest levels of our client organizations through Heidrick & Struggles Ventures, our unit responsible for other complementary businesses, alliances and investments. For more information about Heidrick & Struggles, visit our web site at http://www.heidrick.com/ .
Safe Harbor Statement
This news release contains forward-looking statements. The forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions. Forward-looking statements may be identified by the use of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions. Forward-looking statements are not guarantees of future performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed, forecasted or implied in the forward-looking statements. Factors that may affect the outcome of the forward-looking statements include, among other things, our ability to attract and retain qualified executive search consultants; a continuing economic downturn in the United States or a material economic downturn in Europe or elsewhere, or social or political instability in overseas markets; bad debt write-offs far in excess of allowances for doubtful accounts; continued increased acceptance of online recruiting; losses in our venture capital investments; an inability to control expenses; and delays in the development and/or implementation of new technology and systems. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Heidrick & Struggles International, Inc.
Web site: http://www.heidrick.com/
CONTACT: media, Eric Sodorff, +1-312-496-1613, or esodorff@heidrick.com , or analyst, Barry Hollingsworth, +1-312-496-1723, or bhollingsworth@h-s.com , both of Heidrick & Struggles International, Inc.