CTPartners Executive Search Inc. (NYSE MKT: CTP) announced its board of directors formed a special committee to review strategic alternatives for the company, including a previously announced proposal from DHR International Inc. to acquire all of the outstanding shares of the company for $7.00 a share and a range of other alternatives.

The board is composed solely of independent directors, and has engaged Robert W. Baird & Co. to serve as its financial adviser.

The special committee has not established a timetable and there is no assurance that the review process will result in any transaction being announced or completed.