Headhunter Heidrick & Struggles has announced the completion of a $30m share repurchase programme.

The firm’s board authorised the programme in October 2004. It has bought 1.1m shares of common stock.

Currently, Heidrick & Struggles has around 18.6m shares outstanding. Chairman and chief executive Thomas J Friel said: “We are pleased to report the completion of our most recent stock repurchase programme, which reduced our total number of shares outstanding by 6%.”

Firms often use share repurchasing to give a positive sign to investors about long-term prospects.