Carve-Outs



Companies benefit by adding human capital experts to their current suite of advisors during a carve-out transaction 
33%
don't deliver on expxectations
Execution falls apart when the team isn't ready
Carve-Outs
The right leadership and insight to protect—and grow—carve-out value

Carve-outs are booming—fueled by portfolio simplification and a wave of private capital eager to invest. But while capital moves fast, leadership often lags. Whether you’re buying or selling, value leaks when the core team is underpowered, decision rights are murky, or critical roles aren’t built for what comes next. That’s not a strategy problem—it’s a leadership one. With the right focus, carve-outs can unlock growth, clarity, and performance from day one.

We help leadership teams take control of what the deal leaves exposed. From aligning the top team and defining decision rights to assessing talent and restoring execution pace, Heidrick brings the clarity and momentum needed to lead through transition. Whether you’re shaping a new entity or inheriting one, we ensure the organization is equipped to perform—on day one and beyond.

By the numbers: What the market's telling us about carve-out risk
 
620+
Carve-Outs in 2024
But the majority left performance on the table
 
1,000+
workstreams per deal
Finance and IT dominate, with talent decisions getting delayed
 
5-7%
of deal value lost
TSA overhang pulls leadership into infrastructure not growth
 
 
10%
cost add-on
 Misfires on leadership, culture, or hiring lead to expensive cleanup
Q: Who is accountable on day 1? Unclear governance and leadership structures delay decisions and erode confidence. Q: Do we have the team to deliver, not just survive? Misaligned or underperforming leaders stall execution and lose critical talent. Q: Can we unify around a clear strategy? Without a compelling strategy and culture to support it, the organization drifts.
Purpose-Driven leadership

CFO focus: Setting up a carve-out for success

Interviews with nine finance executives who have led through a carve-out highlight the unique challenges and four priorities that will help set the new business up for success.

boards & governance

Building a spin-off board: Are you ready?

A new era of corporate splits, spins, and separations raises the stakes on making a bad board appointment. Here’s how thoughtful parent companies avoid them when turning one board into two.

Talent Strategy Management

Navigating top talent decisions for mergers and acquisitions

To find the leadership team best fit for the new organization—from day one—companies need to perform the same level of due diligence as they do for other strategic matters during a merger or acquisition.

Embrace the opportunity to unlock maximum value
Those who treat carve-outs as a Gantt chart rather than a business pivot leave millions in value on the table."
a Heidrick & Stuggles client
Drive efficiency and streamline your post-merger integration

The Integration Playbook

How to de-risk the integration process and fully execute workstreams with on-demand talent

Meet our leadership
Jane Bargmann
Global Managing Partner, Industrial Practice and Co-Lead, Heidrick for Carve-Outs
Amanda Worthington
Global Managing Partner, Consumer Practice and Co-Lead, Heidrick for Carve-Outs
Alexandra Berger
Global Head of Growth, Heidrick Digital
Bonnie W. Gwin
Vice Chair
Jason Henderson
Partner, Heidrick Consulting
Laura J. Klein
VP and Head of Innovation Solutions, On-Demand Talent
How can we help?
Contact us to discuss the needs of your organization

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