Posted by Sarah Barnes on Wed, Aug 18, 2010 @ 09:08 AM
Boston, MA, August 2010 – What do C-level tech-sector execs and members of the Private Equity community think about who ought to succeed Mark Hurd at HP?
Cook Associates Executive Search asked over 1000 top executives about their thoughts on who should be the next leader of the world’s largest technology and services company. Some of the findings were predictable, while others were surprising.
One key finding was that of the 20 largest public companies based on market capitalization, only six were represented on the list. When asked why this was significant, Seth Harris, EVP and Managing Director of the Technology Practice at Cook Associates said “I am left wondering what lessons the tech sector learned from the notable success of Lou Gerstner, who had no previous tech industry experience. He was one of the most successful CEOs of his time.”
The most frequently cited companies outside of HP from which the next CEO should come were Apple, Boeing, Dell, EMC, IBM, Motorola, and Oracle. In particular, nearly 43% of respondents felt the most qualified person to lead HP would be internal (from HP) or from IBM. Jeff Leopold, Managing Director at Cook Associates commented “The wisdom of the crowd suggests that HP’s current strategy is sound and that an internal executive would be the most able to keep the company on its path. IBM’s significant presence on the list was to be expected.” Harris added, “There are few companies in the tech sector other than IBM that match the scale scope, and complexity of HP.”
Just over 11% of respondents proffered the names of female execs as the next leader. Harris said, “Women continue to play a prominent role in the tech sector. Had we conducted this research when Gerstner retired in 2002, I doubt the number would have been in the double digits.”
While the executives solicited were all based in North America, most had extensive European and Asian business operations exposure. Yet very few European or Asian execs were cited. Leopold suggested, “With its extensive operations outside North America, I would think an international executive from an company like Philips, General Electric, or Samsung would be worthy of consideration.”
A large contingent—25%—believes an existing HP executive or Board member would be the best choice. The most frequently cited executive at HP to lead the company was Todd Bradley. Harris opined, “Bradley could indeed be a logical choice. With stints at General Electric, FedEx, and Palm prior to his leadership role at HP, he has the breadth of operating experience to run HP. Plus, while he understands HP’s culture, he has not spent his entire career at HP as was the case for some of the other HP names suggested.”
Perhaps the most jarring insight from the survey results was that Mark Hurd was tied for second place with Ann Livermore among the HP execs cited to be next CEO of HP. Respondents who picked Hurd frequently questioned the HP Board’s judgment in terminating him.
Leopold, who leads Cook’s Board Director practice, noted the importance of succession planning. “It’s crucial for every public company to have a documented plan in place so it can avoid shareholder concerns.”
At one point last week, HP had lost over $10B in market cap, due in some portion to the leadership vacancy.
About the Technology Practice: The Technology Practice at Cook Associates Executive Search has a track record of identifying inspiring leaders and partnering with organizations around the globe to build exceptional management teams. Our search consultants have personally held prior operating roles in general management, sales and marketing and understand the inner-workings of high technology companies. Their relationships with multi-nationals, venture capital investors, and global leaders in private equity provide an expanded network and unparalleled access to senior executives. Click here to learn more about the Technology Practice.
Posted by Sarah Barnes on Mon, Aug 09, 2010 @ 10:25 AM
Chicago, August 2010 – Cook Associates, a leading executive search and M&A advisory services firm, announced that it has named Mary Kier to serve as the CEO for the Executive Search Group. Cook Associates’ former CEO, John Kins, will remain with the firm as Chairman. The promotion comes at a time of celebration for Cook Associates as it will be celebrating its 50th anniversary in 2011.
In her new role, Mary will manage the day-to-day operations of the Executive Search group. Additionally, she will continue to manage the Consumer Products and Services practice, Diversity practice, as well as the global partnership with InterSearch, one of the top international executive search organizations in the world.
In promoting Mary to CEO, John Kins stated, “I am pleased to turn over the day-to-day operations of our search group to Mary Kier, a veteran of executive search and one of the top consultants in the industry. Mary is highly respected by her clients, candidates and Cook personnel. She has demonstrated a strong and passionate commitment to the success and longevity of Cook Associates Executive Search and I am confident she will continue do an incredible job.”
Mary Kier remarks on her recent promotion, “I feel honored to have been chosen as the next CEO for the Executive Search group of Cook Associates. To follow in John Kins’ footsteps and to continue to build this organization is a wonderful challenge. Our Executive Search group has always held as its hallmark to strive for quality in everything that we do, and to delight our clients with a truly engaged search process. Our clients have come to expect a passionate approach to securing talent, and to being their best ambassadors. I intend to foster this in the years ahead and I look forward to working with the leadership team to ensure that we always make a positive contribution to our clients’ success.”
Be sure to follow Mary’s popular Executive Search blog, “Successful Careers in the Making”: Click here.
About Mary Kier
Mary began her search career with the firm in 1984 and has been promoted several times to her current position of CEO of Cook Associates Executive Search. In addition to her own search practice in Consumer Products and Services, Mary leads the Consumer & Retail practice, managing an integrated team of consultants specializing in Consumer Services, Consumer Durable and Non-Durable Goods, CPG and FMCG.
In addition, Mary serves as the firm's Diversity & Inclusion practice leader. She is passionate about building diverse teams and has successfully worked with members of senior management teams to develop high performance plans to build best-in-class diverse organizations. Cook Associates recognizes the value in a team comprised of diverse backgrounds, experiences and perspectives. The Diversity & Inclusion Practice believes that organizations with a strong belief in diversity recruitment will be prepared to take the lead in their respective industry for years to come.
Mary is also actively involved in the firm's partnership with InterSearch - one of the top ten worldwide executive search consortiums. Mary coordinates relationships with the international search partners and speaks at annual global summits.
Throughout her search career at Cook Associates, Mary has been recognized for bringing unique value to every search initiative and for passionately delivering on her promises. She measures her success on personally contributing to the face of corporate America, uniting the best and brightest talent to her client companies. She is respected for her comprehensive understanding of the strategies, operations and management of companies in the Consumer marketplace and for her grasp of the cultural nuances of companies and executive leadership teams. Her search work encompasses CEOs, COOs, CFOs, CMOs, Divisional Presidents as well as functional heads of Sales, Marketing, Finance, HR, and Operations.
Mary received her BS degree in Management and Industrial Relations with high honors. She is a member of several industry organizations.
Posted by Sarah Barnes on Mon, Aug 09, 2010 @ 09:26 AM
Seth Harris, Managing Director within the firm's Boston office, was quoted in the Wall Street Journal regarding the recent resignation of HP's Mark Hurd.
Click here to read the article: H-P Chief Quits in Scandal
About Seth Harris:
Seth Harris is an Executive Vice President & Managing Director. He is responsible for the day-to-day operations of the Boston office, and leads Cook's global Technology & Communications practice. Seth's expertise is helping growth companies build elite management teams. His clients range from prominent multinational corporations to portfolio companies of leading venture capital firms. Read more about Seth Harris.
Posted by Sarah Barnes on Mon, Jun 14, 2010 @ 09:50 AM
Chicago, IL – June 2010 – Cook Associates Executive Search is proud to welcome Four Corners Group, a well-respected, innovative and successful boutique executive search firm in Canada, to the worldwide network of executive search firms, InterSearch.
The partnership was initiated by John Kins, CEO of Cook Associates, the InterSearch member from the United States. After a comprehensive assessment of independently owned and operated executive search firms in Canada, Kins overwhelmingly endorsed Four Corners Group as the best choice for InterSearch. According to Kins, “Four Corners Group stood out as the most successful of the many firms we considered. They are very well-respected in Canada and have an impressive list of satisfied clients.” Kins was also impressed with the firm’s ability to offer innovative services and solutions not found at other search firms.
Mr. Andrew Norrie, Managing Partner and Co-founder of the Four Corners Group, comments, “The search industry has been stagnant in terms of offering new solutions; clients appreciate our innovation and the unique services and solutions that we offer – it is an approach that creates great results.” In May 2010, Norrie traveled to the InterSearch global conference in France to cement Four Corners Group as the Canadian member. “This is a great opportunity for our firm and our clients”, Norrie said, “the InterSearch brand is one that aligns nicely with our own values and focus on quality and we’re excited by this new partnership.”
This partnership creates a new search firm in Canada that is capable of executing executive search assignments on a global level and also gives the firm easy access to International candidates. As the exclusive Canadian member of InterSearch, Four Corners Group is now able to build on their existing national presence in Canada and partner with some of the best privately-held search firms in the world.
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Cook Associates, Inc. is a retained Executive Search and M&A Advisory Services firm. Our core business is creating value at the intersection where talent and opportunity connect, and we are uniquely positioned to help our clients capitalize on the brightest talent and best performing companies in the marketplace. Our client base ranges from multinational corporations to early stage entrepreneurial companies, private equity and venture capital firms. Brand name clients include American Express, The Blackstone Group, Canon, GTCR, Juniper Networking, Levi Strauss & Co., Pitney Bowes, and SiriusXM Satellite Radio. For additional information, visit www.cookassociates.com.
Four Corners Group, a leading executive search and talent solutions firm, is located in downtown Toronto. Canadian owned and operated, the company has successfully completed search assignments in every Canadian province. With 35 years of combined executive search experience, the Partners have created a firm representative of their past success. Learn more at www.fourcornersgroup.com.
InterSearch Worldwide is a global network of search firms consistently ranked amongst the largest retained executive search practices in the world by Executive Recruiter News and search-consult magazines. InterSearch is currently represented in more than 40 countries, staffed by local professionals selected for their experience and reputation in their own markets and their ability to operate internationally. Further information on InterSearch can be found at www.intersearch.org.