CHICAGO - Heidrick & Struggles (NASDAQ:HSII) International, Inc. (NASDAQ:HSII), a global leadership advisory and talent solutions firm, has named Nirupam Sinha as its new Chief Financial Officer, set to take his post on January 6, 2025. Sinha will transition from his current role as CFO of Checkout.com LLC, bringing his extensive experience in finance and strategy to Heidrick & Struggles.
Sinha's career spans nearly two decades, with significant positions at T. Rowe Price Group, Inc. as Global Head of Product and at McKinsey & Company leading Wealth & Asset Management and Corporate Business Functions Practices. His expertise is expected to support Heidrick & Struggles' mission to be the most trusted partner in leadership and talent decisions, as articulated by CEO Tom Monahan.
Monahan praised Sinha's track record in transformative financial management and value creation, emphasizing his strategic insight and leadership skills. Sinha himself remarked on the pivotal role of leadership in business success and expressed his commitment to aiding the firm's growth and performance for clients and shareholders globally.
Sinha's appointment comes at a time when Heidrick & Struggles continues to innovate its services in a transformative market. The company, which has pioneered executive search and leadership advisory services for over 70 years, partners with clients to develop future-ready leaders and organizations.
With a B.A. in Political Science from Yale University and an MBA from the Wharton School at the University of Pennsylvania, Sinha's educational background complements his professional experience. His role at Checkout.com has him overseeing a team of more than 200 across various financial disciplines, demonstrating his capability to manage complex financial operations at a global scale.
This announcement is based on a press release statement from Heidrick & Struggles. The information provided offers a glimpse into the strategic direction the company is taking with the new CFO appointment, as it continues to build on its legacy in the executive search and leadership consulting space.
In other recent news, Heidrick & Struggles has seen a 6% year-over-year increase in Q3 2024 revenue, reaching $279 million, with an adjusted EBITDA of $30.4 million. The Executive Search segment's revenue rose by 3% to $204 million, and despite a dip in European revenue, the Americas and Asia Pacific regions showed significant growth. Truist Securities has maintained a Hold rating on Heidrick & Struggles' stock, while raising the price target to $42 from the previous $40. The firm has expressed interest in the timing of the company's On-Demand Talent (ODT) and Consulting segments reaching their margin targets. In addition, new board members Vijaya Kaza and Tim Carter have been introduced, bringing digital and financial expertise to the company. Heidrick & Struggles has projected Q4 2024 revenue to be between $255 million and $275 million. These are the recent developments for the company, which ended Q3 with a robust $409 million in cash, preparing for strategic growth amidst market uncertainties.
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