Company Reiterates Second Quarter 2024
Outlook
CHICAGO, June 17,
2024 /PRNewswire/ -- Heidrick & Struggles
International, Inc. (Nasdaq: HSII) ("Heidrick & Struggles",
"Heidrick" or the "Company"), a premier provider of global
leadership advisory and on-demand talent solutions, today announced
that Mark Harris, Chief Financial
Officer ("CFO") has elected to depart the Company to pursue other
opportunities. The Company has commenced a formal search for a new
CFO, and Harris, who assumed the role in 2018, will remain with the
Company until August 2024 to ensure
continuity and a successful transition.
"Mark has been a valued member of our executive team over the
past six years and made significant contributions during his
tenure. He helped lead transformative financial management and
discipline, while advancing our strategic direction and the overall
growth of the company," stated Heidrick & Struggles' Chief
Executive Officer Tom Monahan. "I am
immensely appreciative of Mark for his partnership and wish him the
very best in his next professional endeavor. Our internal team is
exceptional, and as premier leaders in executive search, I am
confident that we will identify the next world-class CFO to help
create unmatched value for clients, colleagues, and investors."
"I am proud of what we have accomplished during my time at
Heidrick & Struggles and honored to have worked with such a
talented and dedicated global team," commented Mark Harris. "It has been a privilege to be part
of Heidrick's journey and I look forward to watching the firm's
continued success."
2024 Second Quarter Outlook
The Company continues to expect second quarter 2024 consolidated
net revenue between $255 million and
$275 million.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles (Nasdaq: HSII) is a premier provider of
global leadership advisory and on-demand talent solutions, serving
the senior-level talent and consulting needs of the world's top
organizations. In our role as trusted leadership advisors, we
partner with our clients to develop future-ready leaders and
organizations, bringing together our services and offerings in
executive search, diversity and inclusion, leadership assessment
and development, organization and team acceleration, culture
shaping and on-demand, independent talent solutions. Heidrick &
Struggles pioneered the profession of executive search more than 70
years ago. Today, the firm provides integrated talent and human
capital solutions to help our clients change the world, one
leadership team at a time. ® www.heidrick.com
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of the federal securities laws, including statements
regarding guidance for the second quarter of 2024. 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," "outlook," "projects," "forecasts," "aim" and
similar expressions. Forward-looking statements are not guarantees
of future performance, rely on a number of assumptions, and involve
certain known and unknown risks and uncertainties that are
difficult to predict, many of which are beyond our control. Factors
that may cause actual outcomes and results to differ materially
from what is expressed, forecasted or implied in the
forward-looking statements include, among other things, our ability
to attract, integrate, develop, manage, retain and motivate
qualified consultants and senior leaders; our ability to prevent
our consultants from taking our clients with them to another firm;
our ability to maintain our professional reputation and brand name;
our clients' ability to restrict us our implementation of new
technology and intellectual property to deliver new products and
services to our clients; our dependence on third parties for the
execution of certain critical functions; the fact that we face the
risk of liability in the services we perform; the fact that data
security, data privacy and data protection laws and other evolving
regulations and cross-border data transfer restrictions may limit
the use of our services and adversely affect our business; any
challenges to the classification of our on-demand talent as
independent contractors; the fact that increased cybersecurity
requirements, vulnerabilities, threats and more sophisticated and
targeted cyber-related attacks could pose a risk to our systems,
networks, solutions, services and data; the fact that our net
revenue may be affected by adverse macroeconomic or labor market
conditions, including impacts of inflation and effects of
geopolitical instability; the aggressive competition we face; the
impact of foreign currency exchange rate fluctuations; our ability
to access additional credit; social, political, regulatory, legal
and economic risks in markets where we operate, including the
impact of the ongoing war in Ukraine and the conflict in Israel and the Gaza strip, the risks of an expansion or
escalation of those conflicts and our ability to quickly and
completely recover from any disruption to our business; unfavorable
tax law changes and tax authority rulings; our ability to realize
the benefit of our net deferred tax assets; the fact that we may
not be able to align our cost structure with net revenue; any
impairment of our goodwill, other intangible assets and other
long-lived assets; our ability to maintain an effective system of
disclosure controls and internal control over our financial
reporting and produce accurate and timely financial statements; our
ability to execute and integrate future acquisitions; and the fact
that we have anti-takeover provisions that make an acquisition of
us difficult and expensive. We caution the reader that the list of
factors may not be exhaustive. For more information on these risks,
uncertainties and other factors, refer to our Annual Report on Form
10-K for the year ended December 31,
2023, under the heading "Risk Factors" in Item 1A. The
forward-looking statements contained in this press release speak
only as of the date of this press release. We undertake no
obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Contacts:
Investors &
Analysts:
Suzanne Rosenberg, Vice
President, Investor
Relations
srosenberg@heidrick.com
Media:
Bianca Wilson, Director, Public
Relations
bwilson@heidrick.com
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SOURCE Heidrick & Struggles