Heidrick
& Struggles Expands Operations in Central
and Eastern Europe |
CHICAGO, Feb. 3, 2009 (GLOBE NEWSWIRE) -- Heidrick
& Struggles International, Inc. (Nasdaq:HSII),
the world's premier executive search and leadership
advisory firm, today announced it has completed
the acquisition of the Warsaw office of Ray &
Berndtson, a leading retained executive search
operation. It has also welcomed staff from Ray
& Berndtson's operations in Austria and individuals
from Ray & Berndtson teams based throughout
Central & Eastern Europe. In total, the company
increases the number of consultants in this region
by seven.
"We are pleased to welcome
these consultants, their associates and support
staff, to the Heidrick & Struggles team. These
talented individuals significantly enhance our
scale and competitive positioning in Central &
Eastern Europe, as well as in many of our industry
practice groups," said Kevin Kelly, Chief
Executive Officer of Heidrick & Struggles.
"This investment better positions our company
in a fast-growing region, and benefits our clients
by enabling us to expand the service offerings
and scope of our combined businesses. We are confident
that our new consultants will be able to quickly
realize revenue and productivity increases from
capitalizing on our brand, by working closely
with our practice groups, and by utilizing our
support capabilities, such as our Knowledge Management
Center in India."
Joachim R. Zyla, Managing Partner
of Ray & Berndtson's activities in Central
& Eastern Europe, who will be joining Heidrick
& Struggles, said: "Heidrick & Struggles
is the premier global brand in the executive search
industry. And it is the firm which will change
the face of the industry over the next three years
as it develops into a leadership advisory firm,
not only focusing on the acquisition of talent
at the senior level, but also on helping clients
develop and retain their employees. We are looking
forward to starting work."
About Heidrick & Struggles International,
Inc.
Heidrick & Struggles International,
Inc. is the world's premier provider of senior-level
executive search and leadership consulting services,
including talent management, board building, executive
on-boarding and M&A effectiveness. For more
than 50 years, we have focused on quality service
and built strong leadership teams through our
relationships with clients and individuals worldwide.
Today, Heidrick & Struggles leadership experts
operate from principal business centers in North
America, Latin America, Europe and Asia Pacific.
For more information about Heidrick & Struggles,
please visit www.heidrick.com.
Safe Harbor Statement
This press release contains forward-looking
statements. The forward-looking statements are
based on current expectations, estimates, forecasts
and projections about the industry in which we
operate and management's beliefs and assumptions.
Forward-looking statements may be identified by
the use of words such as "expects,"
"anticipates," "intends,"
"plans," "believes," "seeks,"
"estimates," "projects," "forecasts,"
and similar expressions. Forward-looking statements
are not guarantees of future performance and involve
certain known and unknown risks, uncertainties
and assumptions that are difficult to predict.
Actual outcomes and results may differ materially
from what is expressed, forecasted or implied
in the forward-looking statements. Factors that
may affect the outcome of the forward-looking
statements include, among other things: our ability
to attract and retain qualified executive search
and leadership advisory consultants; the condition
of the economies in the United States, Europe,
Asia Pacific, and elsewhere; social or political
instability in markets where we operate; the impact
of foreign currency exchange rate fluctuations;
price competition; the ability to align our cost
structure with net revenue; the ability to forecast,
on a quarterly basis, variable compensation accruals
that ultimately are determined based on the achievement
of annual results; our ability to realize our
tax loss carryforwards; the timing of a partial
release or full reversal of deferred tax asset
valuation allowance; the mix of profit and loss
by country; an impairment of our goodwill and
other intangible assets; and delays in the development
and/or implementation of new technology and systems.
Our reports filed with the U.S. Securities and
Exchange Commission also include information on
factors that may affect the outcome of forward-looking
statements. We undertake no obligation to update
publicly any forward-looking statements, whether
as a result of new information, future events
or otherwise.
CONTACT: Heidrick & Struggles International,
Inc.
Investors & Analysts:
Julie Creed, VP, Investor Relations
+1 312 496 1774
jcreed@heidrick.com
Gong Communications
Media:
Narda Shirley
+44 20 7935 4800
"Safe Harbor"
Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release
regarding Heidrick & Struggles International,
Inc.'s business which are not historical facts
are "forward-looking statements" that
involve risks and uncertainties. For a discussion
of such risks and uncertainties, which could cause
actual results to differ from those contained
in the forward-looking statements, see "Risk
Factors" in the Company's Annual Report or
Form 10-K for the most recently ended fiscal year.
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