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World – Heidrick & Struggles appoints CEO

03 February 2014

International recruitment firm Heidrick & Struggles (HSII: NASDAQ) announced today the appointment of Tracy Wolstencroft to the positions of President and CEO. Interim CEO Jory Marino will continue with the company in a leadership role.

Mr Wolstencroft (55) joins Heidrick & Struggles following a 25-year career at Goldman Sachs & Co. During his career, he led a wide range of businesses in the United States and abroad, including Investment Banking Services, Environmental Markets, Latin America, Public Sector and Infrastructure Banking, and Fixed Income Capital Markets. 

While living in Asia from 1998 to 2002, Mr Wolstencroft was President of GS Singapore, co-head of investment banking in Japan, head of Asia financial institutions, and a leader of the firm's strategy in China. In 2010, he retired from the firm, becoming an Advisory Director and Chairman of the Clean Technology and Renewables business. He currently serves on the Boards of the Brookings Institution, the National Geographic Society, and the International Rescue Committee.

Richard Beattie, Chairman of the Board of Heidrick & Struggles, commented: "Tracy Wolstencroft is a multi-talented executive who brings strong leadership capabilities and a proven ability to manage a global client-service organisation. Tracy embodies all of the characteristics we were looking for in our next CEO, and we are confident that our clients, employees and shareholders will benefit from his perspective, capabilities, and commitment to excellence. He has an extensive global network, deep boardroom experience, and an outstanding reputation for delivering good counsel to senior leaders and organisations across a wide range of industries and geographies. We believe he is a great cultural fit and are delighted to have him join Heidrick & Struggles."

"On behalf of the entire Board and organisation, I want to thank Jory Marino, a key member of the senior executive team, for his important contributions to the firm during this interim period. We are pleased we will continue to benefit from Jory's talents and expertise as he continues in a leadership role," Mr Beattie concluded.  

Mr Wolstencroft added: "Heidrick & Struggles has a great franchise and a premium brand, and I look forward to working with its talented team to help the firm achieve its full potential. My focus will be on sharpening our strategy, energising the team, fostering collaboration and teamwork, and building on our talent while increasing efficiency. We will drive innovation across the organisation to ensure our global client base receives the unparalleled expertise and service it needs to help build winning leadership teams. At the same time, we will be focused on leveraging an iconic brand to deliver significant long-term value to shareholders. I firmly believe in the power of this unique organisation and that its best days lie ahead."

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Bill 02/04/2014 09:26 am

Makes no sense. Tracy's a nice enough guy but he's wealthy, an environmentalist (who lives in a 12,000 square foot house in Greenwich), wand spends his money buying his way onto boards with a lot of prestige but no business orientation. His family foundation was an investor in Coda, a bankrupt energy company that took advantage of tax credits in California and still couldn't make it. He will do well with the Davos-attending Kevin Kelly and Jory Marino but this appointment will mean little to the average working stiff at Heidrick. I giVe it 24 months before he becomes bored and quits.


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