CALDWELL PARTNER INTL CRP - CWLPF STOCK NEWS

Caldwell Partners, a talent acquisition firm, reported its fiscal 2024 third quarter results, showing a significant 77% increase in professional fees from its Caldwell operations, totaling $26.4 million compared to $21.5 million in the previous year. Consolidated professional fees grew by 12.7% year-over-year to $29.2 million. The company's net earnings after tax improved to $1.75 million, with basic earnings per share rising to $0.059. Despite this, IQTalent's professional fees dropped to $2.8 million from $4.4 million. Operating profit for the quarter was $2.4 million, a substantial increase from $985,000 the previous year.

The company highlighted improved executive confidence in the economy and an easing of pent-up demand as key growth drivers. However, they caution that fourth-quarter revenue may ease while remaining above the first two quarters. Selling, general, and administrative expenses increased to $4.8 million, while restructuring income of $7.98 million was noted from the lease termination of IQTalent's Nashville facility.

Caldwell Partners has announced the appointment of Richard W. Pehlke to its board of directors, effective July 11, 2024. Richard Pehlke brings over 40 years of financial leadership experience, having held executive roles in various industries including business services, telecommunications, and commercial real estate. He previously served as the EVP and CFO for Heidrick & Struggles, where he was part of the Executive Committee and was named CFO of the Year for Mid-Cap companies in 2015 by the Financial Executive Institute's Chicago Chapter. Pehlke's board experience includes roles at Ideal Industries, Hudson Highland Group, and New Zealand Telecom among others. CEO John Wallace expressed confidence that Pehlke's expertise will be invaluable to Caldwell's strategic goals.

On July 11, 2024, Caldwell Partners International (TSX:CWL, OTCQX:CWLPF) announced the passing of their Board Chairman, Elias Vamvakas, after a battle with cancer. CEO John Wallace praised Vamvakas for his leadership and guidance, especially during the pandemic. Vamvakas, who joined Caldwell's Board in July 2019, also held leadership roles at Greybrook Capital, Greenbrook-TMS NeuroHealth centers, and TearLab He is survived by his wife, Nancy, their three children, and other family members.

The Counsel Network and CCCA released a new report showing a significant increase in the national base salary for in-house counsel in Canada, which now averages $196,000, an 8.9% rise from 2022. The report highlighted that the gender pay gap persists, with female in-house counsel earning $21,500 less on average than males. Racialized and disabled lawyers also face pay disparities, earning $7,500 and $34,500 less respectively. The highest-paying industries are retail/hospitality/food & beverage/consumer products, followed by real estate and information technology. Work-life balance satisfaction has improved, and the primary motivator for job changes remains compensation. However, promotions have become a lesser motivator compared to better work/life balance. Additionally, there is a notable preference for hybrid work arrangements among in-house counsel.

Caldwell has announced the addition of Raj Das to its New York office, enhancing its Technology Practice. Das, a seasoned expert with over 30 years of experience, will focus on recruiting transformative leaders in sectors like big data, AI, robotics, and media. He joins from a boutique retained search firm where he led the Global Transformation Practice. Das has a rich background, including being the founder and CEO of a global digital media firm and holding senior roles at Citigroup, ING Barings, and Bear Stearns. Caldwell's president, Chris Beck, emphasized Das's strategic fit for their goals in digital transformation.

Talent acquisition firm The Caldwell Partners International Inc. (TSX:CWL);(OTCQX:CWLPF) reported financial results for the fiscal 2024 second quarter, showing a decrease in revenue compared to the previous year. Despite a loss in earnings, the company anticipates higher revenue in the upcoming quarter due to increased executive search bookings. Cost reduction initiatives at IQTalent and positive market trends are expected to drive growth for the company.

Caldwell, a retained executive search firm, has enhanced its people, talent, and culture recruiting capabilities by adding Brooke Price as a partner. With a 15-year successful track record, Price will play a key role in building out the Human Resources Practice. She specializes in placing influential leaders in companies of all sizes, focusing on communication, problem-solving, and relationship-building.

Caldwell enhances cybersecurity recruiting capabilities with new partner Sophie De Ferranti, addressing the increasing demand for experienced cybersecurity professionals amidst a global talent shortage.

Caldwell Partners International (TSX:CWL) held its Annual Meeting of shareholders with 78 shareholders voting by proxy, representing 48.37% of voting common shares. Directors were elected, including Terry Grayson-Caprio as the new Compensation Committee Chair. KPMG LLP was appointed as auditors with a 99.94% approval.