Heidrick & Struggles Inc - HSII STOCK NEWS

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.

Heidrick & Struggles (HSII) reported its fourth-quarter 2020 financial results, showcasing a 12.2% increase in net revenue to $161.0 million from the prior quarter. Adjusted operating income rose to $12.8 million, with a margin of 7.9%. Despite these gains, consolidated net revenue fell 11.9% year-over-year to $621.6 million due to pandemic impacts. Net income for Q4 was $5.5 million, down from $10.6 million in Q4 2019. The company declared a cash dividend of $0.15 per share for Q1 2021 and projects Q1 revenue between $160 million and $170 million amidst ongoing pandemic challenges.

Heidrick & Struggles (Nasdaq: HSII) will hold a quarterly conference call on February 22, 2021, at 5:00 PM ET, to discuss its fourth-quarter and full-year 2020 financial results. The call will be accessible via live webcast and phone. Investors can join the call by dialing +1-866-211-4120 or +1-647-689-6618 with conference ID: 3173733. A replay of the webcast will be available two hours post-call. Heidrick & Struggles specializes in leadership solutions, serving top organizations globally.

Heidrick & Struggles (Nasdaq: HSII) announced key leadership appointments effective January 1, 2021, aimed at promoting long-term growth and enhancing diversity efforts. Kamau Coar takes on the role of Chief Inclusion Officer, in addition to being Chief Legal Officer, focusing on diversity and talent development. Jenni Hibbert is appointed as Global Managing Partner, Head of Executive Search Go-To-Market, tasked with expanding client relationships and scaling services. These changes are part of the firm's strategy to build a more inclusive culture and strengthen its advisory services.

Heidrick & Struggles (Nasdaq: HSII) announced that CFO Mark Harris will present at the Sidoti Virtual Investor Conference on January 13, 2021, at 3:15 p.m. Eastern Time. The presentation can be accessed via a live webcast.

Heidrick & Struggles, established over 65 years ago, specializes in executive search, leadership assessment, and organizational effectiveness. The firm aims to transform leadership teams and drive organizational success.

The COVID-19 pandemic has led to a significant slowdown in CEO turnover within the Russell 3000, potentially resulting in a record-low year for successions in 2020. In Q2 2020, there were only 71 CEO successions, an 11.3% decline from previous years. The report also highlights a decrease in interim CEO appointments, dropping to 18.1% in the first half of 2020. Additionally, while female CEO appointments rose to 8.2%, departures increased to 6.2%, indicating a troubling trend in gender diversity. The analysis suggests an emphasis on stable leadership during uncertain times.

Heidrick & Struggles International (Nasdaq: HSII) reported a third-quarter operating loss of $38.2 million, mainly due to a restructuring charge of $48.1 million. Net revenue decreased to $143.5 million, a drop from $182.2 million year-over-year, largely driven by the pandemic's impact. Adjusted net income stood at $7.7 million, with diluted earnings per share of $0.39. The company expects annual savings of $30-40 million from the restructuring. Despite challenges, management emphasizes strong market position and growth in consulting services, particularly in diversity and leadership development.