CALDWELL PARTNER INTL CRP - CWLPF STOCK NEWS

The Caldwell Partners International has announced the spin-off of its software business, IQRecruit, from the IQTalent segment. This strategic move aims to enhance the operational focus of both entities, allowing IQRecruit to secure financing for its growth and enabling IQTalent to refine its customer service. IQRecruit, utilizing AI and automation, aims to streamline the talent acquisition process. Caldwell will maintain a 41.9% stake in IQRecruit and retain its status as a major client. The spin-off is expected to drive innovation and long-term value for shareholders, despite the associated risks of the market environment.

Caldwell Partners International reported the outcomes of its Annual Meeting held on February 21, 2023, with 54.74% of total common shares represented by 87 shareholders voting by proxy. All nominated directors were elected, including a new Audit Committee Chair, Rosemary Zigrossi, succeeding Kathy Welsh. The meeting also resulted in the appointment of KPMG LLP as auditors, receiving a 99.75% approval rate. Furthermore, the shareholder rights plan was reconfirmed with 98.55% support. Caldwell Partners operates as a technology-driven talent acquisition firm with listings on TSX and OTCQX under CWLPF.

TORONTO, ON / ACCESSWIRE / January 19, 2023 / Caldwell (TSX CWL)(OTCQX:CWLPF) has announced a remarkable net promoter score (NPS) of 93 for fiscal 2022, up from 88 in fiscal 2021. NPS measures client satisfaction, indicating how likely clients are to recommend the company's services. An NPS above 50 is regarded as excellent, making Caldwell's score well above industry standards. Caldwell emphasizes its commitment to client relationships, blending international firm resources with boutique services to enhance talent acquisition solutions. This client satisfaction score highlights the firm's impactful services and long-standing dedication to excellence in the executive search industry.

The Caldwell Partners International reported fiscal Q1 2023 results, showing a 38% revenue decline to $23.9 million compared to the previous year. This downturn is attributed to economic slowdown and rising inflation, leading to significant operating losses of $5.5 million. Restructuring expenses totaled $2.5 million, mainly from staff reductions in IQTalent. Despite these challenges, the firm aims for profitability by Q3 2023 by adjusting costs and expanding its team. The CEO remains optimistic about future client hiring plans.

Caldwell Partners International (TSX:CWL, OTCQX:CWLPF) announced an amendment to its purchase agreement for IQTalent Partners, deferring $3.6 million in remaining payments due to reduced hiring demand. Initial payments were scheduled for January 15, 2023, now changed to $0.1 million by January 15, $1.1 million by April 15, and $2.4 million by September 15, 2023. The deferred amounts will accrue 10% interest. This adjustment reflects IQTalent's business restructuring efforts.

Caldwell (TSX:CWL)(OTCQX:CWLPF) announced the addition of Virgil Fludd as a partner in its Atlanta office, enhancing its recruiting capabilities across various sectors, including financial services and technology. Fludd brings extensive experience from his previous roles at The Carvir Group and Bank of America, along with a background in public service as a former legislator in Georgia. His expertise is expected to significantly benefit Caldwell's clients by addressing critical challenges in executive recruitment.

Caldwell announced the addition of Stephen Moore as a partner in its Technology and Industrial practices, enhancing its recruiting capabilities. With over 25 years of experience in executive search, Moore has delivered over $15 billion in shareholder value across North America, Europe, and Asia. His prior roles include leading North American expansion for WilsonHCG and founding The Fathom Group. Caldwell aims to continue adding high-caliber partners to enhance client value. The firm specializes in technology-powered talent acquisition, providing recruitment services and talent strategy.

Caldwell (TSX:CWL; OTCQX:CWLPF) has bolstered its investment and corporate banking capabilities with the appointment of Ellen Newhouse as a partner in its Financial Services Practice. Based in New York and Stamford, Newhouse brings over a decade of executive recruiting experience and a solid background in corporate finance and equity research. Her expertise in recruiting for global corporate and investment banks enhances Caldwell's ability to meet client needs. Caldwell positions itself as a premier retained executive search firm specializing in connecting clients with transformational talent.

The Caldwell Partners International reported record fiscal 2022 revenue of $156.2 million and an operating profit of $10.6 million, marking a 30% increase in revenue and a 79% increase in profit year-over-year. The results reflect the inclusion of IQTalent Partners, acquired in late 2020. However, the firm noted a decrease in hiring demand due to economic concerns, particularly in the technology sector, leading to potential staffing adjustments. The CEO expressed confidence in the company's future and ongoing acquisition opportunities.