Heidrick & Struggles Elects New Board Members
September 30, 2024 – Executive search, leadership consulting, and culture shaping services provider Heidrick & Struggles has elected Vijaya Kaza and Timothy Carter to its board of directors as independent directors, effective immediately. The firm also announced that long-serving board member Lyle Logan will depart. Following these changes, the company’s board of directors consists of nine directors, eight of whom are independent.
“We are thrilled to welcome both Vijaya and Tim to our board, and on behalf of Heidrick & Struggles and the board of directors, I would like to thank Lyle for his valuable contributions to the company and wish him well with his future endeavors,” said Tom Monahan, CEO of Heidrick & Struggles. “Vijaya’s executive experience overseeing digital products, consumer experience, and cybersecurity, combined with Tim’s record of value creation in complex advisory businesses, will greatly enhance our board’s capabilities and value in the marketplace as we continue to innovate and grow across diverse industries. Furthermore, Tim’s appointment marks the first time a public company CFO joins our board, bringing a new depth of financial expertise to help guide our strategic decisions.”
Ms. Kaza currently serves as chief security officer and vice president, engineering – trust and safety at Airbnb, Inc. She brings over two decades of experience in the technology sector and has been instrumental in driving digital transformation and product development in high-growth technology companies. “Her technical expertise and leadership in AI/ML, cybersecurity, and SaaS/cloud security will provide significant value to Heidrick & Struggles amid the evolving leadership landscape,” the firm said.
Mr. Carter is the former chief financial officer of Piper Sandler Companies, where he played a pivotal role in steering the firm through a period of value creation through both strategic growth initiatives and major acquisitions. With over 30 years of financial leadership experience, he has demonstrated strong capabilities in capital deployment, corporate governance, and business unit autonomy. His financial acumen and experience will contribute invaluable insights into governance and strategic growth across multiple industries, Heidrick said.
“I am excited to join Heidrick & Struggles’ board of directors and look forward to contributing to the company’s continued growth and innovation,” said Ms. Kaza. “Heidrick & Struggles has an impressive legacy of delivering world-class leadership advisory services, and I’m eager to support their mission in building future-ready leaders and organizations.”
“Having worked closely with Heidrick & Struggles in the past, I have seen firsthand the impact they make in transforming leadership teams across industries,” said Mr. Carter. “I’m honored to join the board at this pivotal time and contribute to the company’s ongoing success.”
Newly Appointed CEO and President
Earlier this year, Heidrick announced that Krishnan Rajagopalan has decided to retire, after more than 23 years with the firm. Following a planned succession process, the board has appointed Mr. Monahan to succeed Mr. Rajagopalan as CEO and member of the board, which was effective March 4. Mr. Monahan was managing partner of Norton Street Holdings and was previously president and CEO of DeVry University. “Search firms are highly focused on trying to leverage data, innovative technology, analytics, and IT to not only lift their client’s performance, but also their own,” said Scott Scanlon, CEO of Hunt Scanlon Media. “Bringing in this outsider at this time makes a whole lot of sense.”
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“The board of directors, including Krishnan, have thoughtfully and deliberately developed this succession plan, and we are confident these leadership announcements position Heidrick & Struggles for continued success well into the future,” said Adam Warby, chairman of the board of Heidrick & Struggles. “Tom Monahan is a proven and innovative executive with a deep passion for the leadership arena and a unique view into what matters – and what works – when driving corporate performance. Tom’s decades of experience in growing technology-enabled services firms focused on delivering C-suite advice makes him the right person to build on our strengths in leadership advisory and to unlock transformative growth through our strategy of innovative diversification.
“Anyone who knows me, understands that I am passionate about the work of finding, developing, and supporting great leaders,” said Mr. Monahan. “Heidrick & Struggles has shaped the leadership advisory industry for decades. As a longtime client, I can see endless possibilities to extend our strength in search, which will continue to be the cornerstone of our strategy, and leverage our diverse assets — including our On-Demand, Consulting and Digital solutions — to deliver value for our clients and our shareholders, and I look forward to leading the company’s talented team as we help clients put the right leadership teams and strategies in place to change the world.”
Heidrick also announced that Mr. Murray, global managing partner of Executive Search, has become president, reporting to Mr. Monahan. In addition to continuing to lead Executive Search, he will have operational responsibility for On-Demand Talent, Heidrick Consulting and go-to-market in his new role. Based in Heidrick’s Boston office, Mr. Murray is a member of the global management committee and is responsible for leading the firm’s global executive search business and client operations.
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Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Executive Editor – Hunt Scanlon Media
