Heidrick & Struggles Board Moves to a Majority of Independent Directors; Three Internal Directors Leave Board
CHICAGO, Sept. 25 /PRNewswire-FirstCall/ -- Heidrick & Struggles International, Inc. (Nasdaq: HSII), the world's premier executive search and leadership consulting firm, today announced that -- as part of its continuing plan to reconfigure its Board of Directors to include a majority of independent directors -- it has accepted the resignations of three of the five employees who are Board members. Piers Marmion, Chairman and Chief Executive Officer, and Gerard R. Roche, Senior Chairman, are the two internal directors who will remain on the Board.
"For the past year, we have stated our intention to move in this direction, well before the provisions of good corporate governance were set forth by Nasdaq and the Sarbanes-Oxley Act. The three individuals who are stepping down today have made important contributions to our Board during their years of service but fully support the transition to Board independence," said Marmion.
Added Richard I. Beattie, Chairman of the Board Governance and Nominating Committee of the Heidrick & Struggles Board, "At its core, Heidrick & Struggles is in the business of serving its clients as a corporate advisor. As such, this is an important milestone for a company that must be, in both word and deed, an example of good corporate governance."
The three Heidrick & Struggles employees departing the Board are David C. Anderson, President and Chief Operating Officer; Thomas J. Friel, Vice Chairman; and Bengt Lejsved, Vice Chairman.
The resignations were effective after the conclusion of the Board meeting held yesterday. The company will have six Board members until it adds one or more independent directors, which it expects to do within the next six months.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International, Inc. is the world's premier provider of executive-level search and leadership consulting services. Currently, approximately 1,600 Heidrick & Struggles search professionals and employees operate from locations primarily in North America, Latin America, Europe, and Asia Pacific. For nearly 50 years, 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 leadership needs, including recruitment of emerging talent, executive assessment, interim executive placement, and professional development. For more information about Heidrick & Struggles, visit our web site at www.heidrick.com .
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SOURCE Heidrick & Struggles International, Inc.
Web site: http: //www.heidrick.com
CONTACT: media, Eric Sodorff, +1-312-496-1613, or esodorff@heidrick.com , or analysts, Lynn McHugh, +1-312-496-1593, or lmchugh@heidrick.com , both of Heidrick & Struggles International, Inc.