LOS ANGELES, Sept. 24 2015 /CNW/ - Korn Ferry (NYSE: KFY), the preeminent global people and organizational advisory firm, today announced that it has entered into a definitive agreement to acquire Hay Group.
The combination of Korn Ferry and Hay Group brings together two world class brands with a rich heritage and more than a century of combined success in fueling people and leadership to drive positive change in organizations and society.
Founded in 1943, Hay Group is a global leader in people strategy and organizational performance. With a solid portfolio of intellectual property, including several of the world's most comprehensive management databases, Hay Group helps organizations reach their highest aspirations and strategic goals by releasing the full power and potential of their people.
With the addition of Hay Group, Korn Ferry will have an unrivaled ability to support the global business community not only in attracting top talent and designing compensation and reward incentives, but also with an integrated approach to the entire leadership and people continuum.
"Without people, there is no show. Rockets didn't take us to the moon; it was the engineers and the dreamers. The Internet didn't create a globally networked economy; it was the innovators and creators. Since the beginning of time, people have been the ultimate differentiator. Yet today, this simple truth is all too often plastered on office walls, but rarely acted upon in the halls. We need a new conversation on people," said Gary D. Burnison, CEO of Korn Ferry. "That's why Korn Ferry is combining with Hay Group – knowing that when people align to a strategy and are developed and empowered to succeed, anything is possible. Korn Ferry, now with Hay Group, will be the preeminent global people and organizational advisory firm. We will be approximately 7,000 of the best and brightest minds of our industry who have a single goal. Unleashing the best and brightest people so that organizations around the world may reach their highest aspirations, strategic goals, and ultimate potential."
"We are delighted to be joining Korn Ferry," said Stephen Kaye, CEO of Hay Group. "We feel this is the perfect combination of two great firms that will be uniquely positioned to help clients achieve their strategic goals and highest aspirations. In Korn Ferry we have found a like-minded partner committed to enabling stellar business performance through people and organizational effectiveness. We are now witnessing an extraordinary transformation that will shape the future of work and the global business environment – united, we offer an incomparable capacity to help clients succeed in this new context."
Underpinning solutions offered by Korn Ferry and Hay Group is proven science and a vast library of proprietary tools and techniques that have been developed by both firms through decades of pioneering research. Together, the firms share some of the best and most comprehensive leadership, reward and engagement databases in the world to serve clients.
Immediately following the closing of the transaction, Korn Ferry will combine Hay Group with Korn Ferry's Leadership and Talent Consulting (LTC) segment and brand the combined advisory business as Hay Group. Stephen Kaye, CEO of Hay Group, will continue to serve in this capacity with Korn Ferry.
More information on the combination of Korn Ferry and Hay Group can be found at www.kornferry.com/together. Korn Ferry will be conducting a conference call on Thursday, Sept. 24, 2015 at 9 a.m. EDT to discuss the transaction. The call will be webcast and available online at www.kornferry.com in the Investor Relations section.
About Korn Ferry
For nearly half a century, clients have trusted Korn Ferry to recruit world class leaders. Today, we are the preeminent global people and organizational advisory firm. Through our best-in-class practitioners and devotion to innovation and science, we are committed to making a powerful impact on people, organizations and society as a whole and producing positive outcomes for our clients and shareholders. The firm currently operates in 78 offices in 37 countries and has approximately 3,900 colleagues. Our knowledge and passion for people has made us the global leader in the business that enables business – the people business. We are ready to help our clients shape their future.
About Hay Group
Hay Group is a global leader with over 70 years' experience in people strategy and organizational performance. With a solid portfolio of intellectual property including several of the world's most comprehensive management databases, Hay Group helps organizations reach their highest aspirations and strategic goals by releasing the full power and potential of their people. The firm has approximately 3,100 colleagues worldwide, with 88 offices in 50 countries, and holds management data in 114 countries.
SOURCE Hay Group
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