CTPartners Executive Search Inc. (NYSE MKT: CTP) announced Chairman and CEO Brian Sullivan will leave the firm, effective April 2. The board of directors appointed Vice Chairman Sylvain Dhenin as CEO and is conducting a search for a new non-executive director to chair the board.

Sullivan joined CTPartners as CEO and chairman in 2004.

CTPartners earlier this year came under scrutiny when it announced a former employee submitted a complaint to the US Equal Employment Opportunity Commission. The company said the claim does not have merit. The New York Post newspaper reported on the claim citing insiders.

Executive search firm DHR International Inc. has also approach the company about acquiring it.

CTPartners board last week approved a stockholder rights agreement saying it aims to provide a committee of independent directors time to explore potential strategic alternatives, including DHR’s proposal to acquire all of the outstanding shares of the company for $7.00 a share per share

Dhenin joined CTPartners in 2006 as partner. He has recruited CEOs, CFOs, CIOs and board directors for some of the world’s leading companies and grown CTPartners European offices from two to 15 in eight countries, according to the company. Prior to joining CTPartners, he was managing partner of Whitehead Mann SAS, the French branch of Whitehead Mann plc.

“Sylvain is a world-class executive with a sophisticated understanding of global leadership needs and a strong track record of success in growing CTPartners European operation and board practice,” said Thomas Testwuide, chair of the nominating committee. “He has effectively operated as the number two executive at CTPartners, has the complete trust and confidence of partners and the board, and is the ideal person to lead CTPartners going forward.”

DHR increases stake

Chicago-based DHR yesterday proposed six new directors for election to CTPartners’ board of directors and believes it is now the third largest shareholder in the company, holding approximately 7.3% of CTPartners’ outstanding stock.

The proposed board members include: 

• William Perez, former president and CEO of Wm. Wrigley Jr. Company, Nike, Inc. and SC Johnson. He is currently a senior advisor for Greehhill & Co. and serves on the board of Johnson & Johnson, Whirlpool Corporation, Northwestern Memorial Hospital, and is on the board of trustees for Cornell University.
• William Farley, the current chairman and president of LV Ventures, Inc., a private equity firm with ownership in various operating companies and investments in technology, communications, mining, and finance. He served as the chairman and CEO of Fruit of the Loom for 13 years.
• William Smithburg, the former chairman, president and CEO of The Quaker Oats Company. He currently serves as a director of Barry-Wehmiller Company, is a member of the board of Big Shoulders and is a Life Trustee of Northwestern University. He previously served as director of Abbott Laboratories, Northern Trust, Corning Inc. and Smurfit Stone Container Corporation, was a member of the board of the Grocery Manufacturers of America and was chairman of the board for Northwestern Memorial Hospital.
• John Jastrem, current chairman and CEO of Callison LLC. He formerly served as president and CEO of ACME Holdings & Acquisition Corp., Colt’s Manufacturing Company Inc., Exhibitgroup/Giltspur, The Becker Group, Global Experience Specialist and VIAD. He also served as chairman and CEO of Rapp Collins Worldwide, Hooven Direct Marketing and as CFO and a member of the board for Reliance Steel & Aluminum Company. He was on the board of directors for Applied Discovery Inc., Medquist Inc., Callison Architecture Holding LLC, Hancock Technology Partners, LLC, Matthews Studio Equipment Group and The American Heart Association.
• Daniel Connors, former executive VP and CAO of Kinko’s, led the turnaround of several private equity sponsored companies including: chairman and CEO of Sarnova and chairman and CEO of Physiotherapy Associates. He served on the board of directors and as chairman of the Finance and Audit Committees for both Sarnova and the United Stationers.
• Geoffrey Hoffmann is the CEO of DHR International and serves on the boards of directors of Hoffmann Commercial Real Estate and Osprey Capital, LLC. He previously served as the COO of DHR International.