Tim Dietlin Joins as Partner in Heidrick & Struggles's Healthcare and Life Sciences Practice
May 21 15
Heidrick & Struggles announced the addition of Tim Dietlin to the firm's Chicago office. Dietlin has extensive life sciences and professional services experience and has worked globally and across R&D, Medical and Commercial functions to increase productivity, drive transformational change, and build leadership teams for life sciences organizations. Prior to this role, Dietlin served as a partner at IBM and led the firm's Life Sciences Strategy and Transformation consulting practice.
Heidrick & Struggles Announces Executive Appointments
Apr 28 15
Heidrick & Struggles announced that the firm has strengthened its global depth of consultative expertise with the hiring of 11 new Partners. They are Birgit Adels: Consumer Markets Practice in Amsterdam. Adels will focus on senior executive and C-suite searches and consultancy in consumer markets. The majority of her focus will be in the Fashion, Luxury, Beauty, Retail, Media, E-Commerce and Entertainment sectors. For more than 20 years, Adels has held leadership roles in search and in industry. Previously, she served as CEO for Northern Europe of the Prada Group; Katie Bell: Healthcare and Life Sciences Practice in Atlanta. Bell has nearly 20 years of experience working within the healthcare and consulting industries; Samantha Carey: Healthcare and Life Sciences Practice in New York Carey had been a senior member of the Global Healthcare & Life Science practice and Private Equity practice at a global executive search firm; Tim Dietlin: Healthcare and Life Sciences Practice in Chicago. Dietlin served as a partner at IBM and led the firm's Life Sciences Strategy and Transformation consulting practice; Deborah Farnaby: Global Technology & Services Practice in Johannesburg. Farnaby brings both industry knowledge and consulting expertise to the Global Technology & Services Practice. She worked for more than 20 years within the information technology sector before becoming a search consultant. Previously, she was a director at a startup formed to provide consulting and prior to that she served as the Group Director of Information Technology (CIO) at The De Beers Group; Paul Groce: Information and Technology Officers Practice in New York. Groce was a Partner and Head of the Global CIO, Technology & Operations practice for another major search firm where was a founding member of the firm's Financial Services practice; Daniel Kaplan: Chief Human Resources Officers Practice (Global Co-leader) in New York. Kaplan co-leads the firm's Chief Human Resources Officers Practice; Francois Kouroriez: Financial Services Practice in Boston. Kouroriez joinsHeidrick & Struggles as a Managing Partner within the Financial Services Practice; Nancie Lataille: Consumer Markets Practice in Toronto. Lataille most recently was a senior client partner within the Consumer and Legal, Risk and Compliance practices at a leading global search firm; Michael Matella: Global Technology & Services Practice (Co-leader of Global Services) in Chicago. Matella co-leads Heidrick & Stuggles' Global Services Practice; and John Mitchell: Healthcare and Life Sciences Practice, Global Practice Managing Partner (New York/Miami). Mitchell now leads a team of more than 80 partners, principals and associates in the Americas, Europe and Asia serving clients in the biopharmaceutical, medical technology and healthcare services sectors.
Heidrick & Struggles International Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter of 2015 and Effective Tax Rate Guidance for the Year 2015
Apr 28 15
Heidrick & Struggles International Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported consolidated net revenue (revenue before reimbursements) increased 3.6%, or $4.0 million, to $115.2 million from $111.1 million in the 2014 first quarter. Exchange rate fluctuations negatively impacted results by $4.9 million, or approximately 4%. Adjusted EBITDA improved to $12.3 million, compared to $6.0 million in the 2014 first quarter. Operating income increased by $5.9 million to $6.7 million compared to operating income of $0.8 million in the 2014 first quarter. Net income was $3.4 million and diluted earnings per share were $0.18 compared to net loss of $0.7 million and a net loss per share of $0.04 a year ago. Net cash used by operating activities, which includes annual bonus payments, was $87.8 million, compared to $74.9 million in the 2014 first quarter. as of March 31, 2015 net debt was $79.6 million compared to $181.9 million as of December 31, 2014. Income before income taxes was $6.526 million against $0.512 million a year ago. Capital expenditures was $6.282 million against $1.127 million a year ago. The first quarter year-over-year improvements in adjusted EBITDA and operating income mostly reflect higher net revenue and lower general and administrative expenses, which were partially offset by an increase in salaries and employee benefits expense.
The company is forecasting second quarter 2015 consolidated net revenue of between $127 million and $137 million. This forecast is based on the average currency rates in March 2015 and reflects, among other factors, management's assumptions for the anticipated volume of new Executive Search confirmations, Leadership Consulting assignments and Culture Shaping services, the current backlog, consultant productivity, consultant retention, and the seasonality of its business.
For the year 2015, the company projected effective tax rate of approximately 41%.