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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) has appointed Tracey Heaton as its new Chief Legal Officer and Corporate Secretary, effective immediately. Heaton brings extensive experience from her previous role as Senior Vice President and Chief Corporate Counsel at Visa Inc., where she was pivotal in corporate transactions and strategic growth. Her expertise is expected to significantly contribute to Heidrick's growth ambitions in leadership advisory and talent solutions, aligning with the company's ongoing transformation.
Heidrick & Struggles (Nasdaq: HSII) announced that Vice Chairmen Bonnie Gwin and Theodore Dysart have been named to the 2021 NACD Directorship 100 for their exceptional contributions to corporate governance. This marks the 10th and 14th recognitions for Gwin and Dysart, respectively. The NACD Directorship 100 honors leaders impacting boardroom practices and performance, evaluated on integrity, confidence, and high performance. The awards ceremony took place on November 9, 2021, highlighting their dedication to elevating boardroom leadership during significant organizational changes.
Heidrick & Struggles (Nasdaq: HSII) announced the appointment of Jennifer Streitwieser as a new partner in its Philadelphia office as of September 2021. Streitwieser, who has extensive experience in management consulting across various industries, will assist clients in navigating cultural transformations and optimizing performance. This addition comes as organizations seek expert guidance in adapting to evolving workforce dynamics. Heidrick & Struggles specializes in global leadership advisory and talent solutions.
Heidrick & Struggles (Nasdaq: HSII) reported record financial results for Q3 2021, with net revenue of $263.8 million, an 83.8% increase from Q3 2020. Operating income reached $33.3 million, and net income was $24.5 million, translating to diluted earnings per share of $1.21. The company noted strong growth across all business segments, driven by increased demand for Executive Search, Consulting, and On-Demand Talent services. A cash dividend of $0.15 per share was declared for Q4 2021, with projected net revenue for the quarter between $255 million and $265 million.
Heidrick & Struggles (Nasdaq: HSII) has scheduled its quarterly conference call on October 25, 2021, at 5:00pm ET to discuss its third quarter financial results. The call will be accessible via live webcast from the investor relations section of its website and by phone at +1-866-211-4120 or +1-647-689-6618, using conference ID 2849047. A replay of the webcast will be available two hours post-call. Heidrick & Struggles specializes in global leadership advisory and talent solutions, aiming to develop future-ready leaders and organizations.
Heidrick & Struggles (Nasdaq: HSII) announced the addition of Jonathan McBride as a new partner in its Executive Search business, focusing on Diversity, Equity & Inclusion and CHRO Practices, based in Los Angeles. McBride brings extensive experience from prior roles at Gradient Consulting and BlackRock, where he led inclusion initiatives. This move aligns with the company's goal to provide clients with tailored talent solutions to foster sustainable, inclusive cultures that enhance organizational performance. McBride's expertise is expected to strengthen Heidrick's leadership advisory capabilities.
Heidrick & Struggles International (Nasdaq: HSII) has announced the appointment of Meg Bear as an independent director on its Board, effective immediately. With this addition, the Board will now include eight directors, seven of whom are independent. Meg Bear brings over 25 years of experience in technology and leadership roles, currently serving as Chief Product Officer at SAP SuccessFactors. Her expertise in innovation and customer-centric solutions is expected to enhance the firm's strategic direction and address critical challenges in promoting diversity and inclusion within organizations.
Heidrick & Struggles International (Nasdaq: HSII) has partnered with Eightfold AI to create a digital leadership platform aimed at enhancing leadership talent assessment and decision-making processes. This collaboration will integrate AI technology to optimize talent forecasting and align with business needs. Anthony Colella, a Global Managing Partner at Heidrick & Struggles, emphasizes the importance of digital transformation in leadership planning. The initiative was announced at the HR Technology Conference & Expo, showcasing a commitment to innovative, tech-driven solutions to support organizations' leadership needs.
On August 24, 2021, Heidrick & Struggles (Nasdaq: HSII) announced the addition of Dustin Laws as a principal in their Philadelphia office, enhancing their Executive Search business in the Americas. With over 15 years of search experience across various sectors including consumer goods and life sciences, Laws will assist clients in developing strategic talent solutions amid the ongoing challenges of the pandemic. This move aims to strengthen the firm's offerings in human capital and people-related roles, further solidifying its position in the leadership advisory space.
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