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Heidrick & Struggles International, Inc. (Nasdaq: HSII) is a global leader in providing executive search, leadership consulting, and on-demand talent solutions. Founded over 65 years ago, the company has established itself as a trusted advisor to the world’s top organizations, helping them identify, develop, and retain senior-level talent. With principal business centers in North America, Latin America, Europe, and Asia Pacific, Heidrick & Struggles operates on a global scale.
Core Services and Segments
- Executive Search: Specializes in identifying and recruiting top-tier executives across various industries, leveraging a network of over 400 consultants worldwide.
- Heidrick Consulting: Offers leadership assessment and development, organizational design, team acceleration, culture shaping, and diversity and inclusion services to help businesses build effective leadership teams.
- On-Demand Talent: Provides interim executives, project managers, and specialized consultants through the Business Talent Group (BTG), a wholly-owned subsidiary focused on meeting the immediate and short-term talent needs of clients.
Recent Achievements and Projects
In recent quarters, Heidrick & Struggles has demonstrated robust financial performance, marked by notable acquisitions that have expanded its service offerings. The acquisition of Atreus Group strengthened their On-Demand Talent segment, while businessfourzero enhanced their Heidrick Consulting capabilities. These strategic moves have contributed to sequential revenue growth, particularly in the Americas and Europe.
Financial Highlights
For the second quarter of 2023, the company reported consolidated net revenue of $271.2 million, a 13.3% increase from the previous quarter. Adjusted EBITDA grew 33% to $36.4 million, with an adjusted EBITDA margin of 13.4%. Despite global economic uncertainties, Heidrick & Struggles continued to invest in digital capabilities to better serve their clients.
Strategic Outlook
Looking forward, Heidrick & Struggles aims to leverage its One Heidrick strategy, which integrates executive search, on-demand talent, and consulting services to provide comprehensive leadership solutions. Their focus on innovation and technology, particularly through the Heidrick Navigator SaaS product, is expected to drive future growth and enhance client services.
Heidrick & Struggles (Nasdaq: HSII) announced the addition of four new consultants to enhance its Executive Search and Heidrick Consulting businesses in the Americas during April and May 2021. The new hires include Kelley Brack Jamison and Laryssa Topolnytsky in leadership roles, leveraging extensive experience in private equity and organizational effectiveness. Marcelo Conteçote and Laura Gironda will focus on cultural solutions and diversity strategies across South America and San Francisco. This expansion aims to provide targeted advisory services to clients navigating complex global talent dynamics.
Heidrick & Struggles International (Nasdaq: HSII) announced that Krishnan Rajagopalan, Mark Harris, and Jody Greenstone Miller will present at the Sidoti Virtual Investor Conference on June 23, 2021, at 12:15 p.m. Eastern Time. The presentation aims to showcase the company's leadership advisory and talent solutions services. Heidrick & Struggles has been a pioneer in executive search for over 65 years, providing integrated human capital solutions to top organizations globally.
Heidrick & Struggles' 2021 U.S. Board Monitor reveals significant shifts in Fortune 500 board diversity. In 2020, 425 new board seats were filled, reflecting a 9% decline from 2019. Black directors surged to 28% of new appointments, nearly tripling from 10% in 2019, largely influenced by societal changes post-George Floyd's death. However, new women appointees dropped to 41% from 44%, marking a rare decline. The report emphasizes the need for broader inclusivity as Latinx and Asian representation stagnates, while industry expertise grows in board selections.
Heidrick & Struggles (Nasdaq: HSII) has expanded its team, adding five new consultants across its Executive Search and Heidrick Consulting divisions. This move aims to enhance the company’s leadership advisory capabilities, focusing on culture, diversity, and inclusion. The new additions come with extensive experience in various industries, including aerospace and life sciences, to support organizations in navigating post-pandemic challenges. The firm continues to position itself as a leader in global talent solutions, emphasizing the importance of innovative cultures in driving business success.
Heidrick & Struggles International (HSII) reported record net revenue of $193.7 million for Q1 2021, up 12.9% from $171.5 million in Q1 2020. Adjusted operating income reached $23.5 million, marking a 29.3% increase, while adjusted net income more than doubled to $17.4 million. The company also announced the acquisition of Business Talent Group for $32.6 million, enhancing its talent solutions. A cash dividend of $0.15 per share was declared for Q2 2021. The outlook for Q2 2021 anticipates consolidated net revenue between $215 million and $225 million amidst ongoing pandemic uncertainties.
Heidrick & Struggles (Nasdaq: HSII) has appointed Jaimee Eddington as the new Americas Regional Leader, effective immediately. Eddington, who joined the firm in 2015, is expected to drive revenue growth, expand into new markets, and enhance client relationships. COO Michael Cullen emphasized her proven leadership and strategic vision as key to navigating complex talent challenges. Eddington aims to foster collaboration across business lines and lead the company in its focus on diversity and inclusion, as well as on-demand talent solutions.
Heidrick & Struggles (Nasdaq: HSII) has scheduled its quarterly conference call to discuss the first quarter financial results for 2021 on April 26, 2021, at 5:00pm ET. The call will be accessible via a live webcast on the company's investor relations website. Participants can also join by phone using the dial-in numbers provided. The replay of the webcast will be available shortly after the call.
Heidrick & Struggles specializes in leadership advisory and talent solutions, serving high-level consulting needs globally.
Heidrick & Struggles (Nasdaq: HSII) has completed the acquisition of Business Talent Group (BTG), enhancing its executive talent solutions. This strategic move positions Heidrick as the first global leadership advisory firm to integrate on-demand independent talent with its consulting services. The acquisition follows a successful two-year collaboration with BTG. The combined offerings aim to meet rising client demands for agile leadership solutions, capitalizing on growth in the independent talent market driven by recent workforce changes. Financial terms of the deal were not disclosed.
Heidrick & Struggles (Nasdaq: HSII) announced the promotion of 12 Partners and 17 Principals in its global search and consulting businesses, effective January 1, 2021. These promotions reaffirm the firm's commitment to developing talent internally. President and CEO Krishnan Rajagopalan emphasized the importance of these leaders in meeting clients' needs in a dynamic marketplace. With a presence in 18 cities across 10 countries, the promotions reflect a strategic management enhancement aimed at strengthening leadership capabilities within the organization.
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