Recruit Holdings Taps Indeed Leader As Next CEO

January 19, 2021 – Recruit Holdings Co. Ltd. has appointed Hisayuki Idekoba, who led the company’s acquisition of jobs website Indeed, as president, CEO and representative director effective April 1. Mr. Idekoba is currently executive vice president, COO and director of the board. Masumi Minegishi, president, CEO and representative director of the board, will step down and will become chairperson and representative director of the board, also effective April 1.

“I think it is the most appropriate timing to pass the baton to a new management team in order to further accelerate our strategic vision to become the global leader of the HR matching market,” said Mr. Minegishi. “I believe Hisayuki Idekoba is the best person to lead the company moving forward as my successor. Hisayuki led the acquisition of Indeed Inc. in 2012 and successfully grew the company as its CEO. He took initiative to transform the entire group as EVP and COO of Recruit Holdings this year.” Before leading the HR Tech SBU, he led the growth of many of the company’s technology-based businesses in Japan. “Hisayuki is a strategic thinker, capable of operationalizing our vision, with profound knowledge and experience in technology-based businesses with a global perspective.”

“The nominating committee had been discussing CEO succession plans and concluded that Hisayuki would be the ideal candidate to succeed Masumi as president and CEO, and lead Recruit Group,” said Naoki Izumiya, chair of the nomination committee and outside director of the board. “The board unanimously supported this proposal. Together with Masumi, the board will offer its full support to Hisayuki, while also closely observing his progress from a shareholder perspective.”

“I am deeply grateful to Masumi and the Recruit Holdings board of directors for placing their trust and confidence in me and appointing me as president and CEO, and at the same time, feel a great sense of responsibility in taking on this role,” said Mr. Idekoba. “Since its founding 60 years ago, Recruit Group has been evolving in order to meet the changing needs of society.”

Recent Earnings

Recruit Holdings is a holding company of Recruit Group. The group adopted a holding company structure in 2012 to enable swift decision-making in line with market trends. Now, the group consists of Recruit Holdings and three strategic business units (SBUs): HR technology, media and solutions and staffing, which include SBU headquarters and operating companies. Recruit Holdings operates on a global scale, serving more than 60 countries and employing over 49,000 people.

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In November, Recruit Holdings reported that revenue fell 6.2 percent in its fiscal second quarter. Revenue in Recruit’s “HR technology” segment, which includes Indeed and Glassdoor, fell 3.1 percent. And staffing operations revenue at the Tokyo-based company, fell six percent with Japanese staffing operations seeing a smaller decline than staffing businesses outside of Japan. COVID-19 had a broad impact on business, Recruit reported. But it cited sequential improvement.

Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media

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