Kelly steps down as CEO of Heidrick & Struggles
16 July 2013
The chief executive officer at global professional services firm Heidrick & Struggles International has stepped down from his role and resigned from the board of directors.
Tue, 16 July 2013The chief executive officer at global professional services firm Heidrick & Struggles International has stepped down from his role and resigned from the board of directors.
L Kevin Kelly, with 17 years’ experience at the company, will return full time to Heidrick’s executive search practice in a senior client service role. Jory Marino, regional leader, Americas, will be interim CEO while the board looks for a full-time replacement from internal and external candidates.
Richard Beattie, chairman of Heidrick & Struggles’ board, says: “Kevin Kelly has had a distinguished 17-year career at Heidrick & Struggles, the last seven as CEO where he led the company through a very challenging period of macroeconomic uncertainty.
“I want to thank Kevin for his unwavering dedication and his many contributions to the company during his nearly two decades of service. As we conduct a search for a permanent CEO, the board is confident that Jory Marino, a key member of the senior executive team, will provide the continuity of leadership to ensure that Heidrick & Struggles continues to execute on behalf of its clients and shareholders worldwide.”
Elsewhere, the company also said that it expects 2013 Q2 net revenue to be at the high end of its previous guidance range of $110m (£73m) and $120m when results are reported later this month.
In addition, Heidrick & Struggles announced that its board has concluded exploring strategic alternatives, including discussions with third parties regarding a potential transaction, and has determined, after consulting with its independent financial advisors, that at this time a standalone strategy is the best way to maximise value for shareholders.
L Kevin Kelly, with 17 years’ experience at the company, will return full time to Heidrick’s executive search practice in a senior client service role. Jory Marino, regional leader, Americas, will be interim CEO while the board looks for a full-time replacement from internal and external candidates.
Richard Beattie, chairman of Heidrick & Struggles’ board, says: “Kevin Kelly has had a distinguished 17-year career at Heidrick & Struggles, the last seven as CEO where he led the company through a very challenging period of macroeconomic uncertainty.
“I want to thank Kevin for his unwavering dedication and his many contributions to the company during his nearly two decades of service. As we conduct a search for a permanent CEO, the board is confident that Jory Marino, a key member of the senior executive team, will provide the continuity of leadership to ensure that Heidrick & Struggles continues to execute on behalf of its clients and shareholders worldwide.”
Elsewhere, the company also said that it expects 2013 Q2 net revenue to be at the high end of its previous guidance range of $110m (£73m) and $120m when results are reported later this month.
In addition, Heidrick & Struggles announced that its board has concluded exploring strategic alternatives, including discussions with third parties regarding a potential transaction, and has determined, after consulting with its independent financial advisors, that at this time a standalone strategy is the best way to maximise value for shareholders.
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