Korn/Ferry International, a premier global
provider of talent management solutions, today announced that it has
acquired LeaderSource, LLC, a leadership development, executive coaching and
team effectiveness consultancy based in Minneapolis.
LOS ANGELES, January 10, 2007 -- Korn/Ferry International, a premier global
provider of talent management solutions, today announced that it has
acquired LeaderSource, LLC, a leadership development, executive coaching and
team effectiveness consultancy based in Minneapolis.
The new entity, which will be called LeaderSource, A Korn/Ferry Company,
will become a wholly-owned subsidiary within Korn/Ferry's Leadership
Development Solutions business. LeaderSource headquarters will remain in
Minneapolis and its founder, Kevin Cashman, will join Korn/Ferry as
President of LeaderSource, A Korn/Ferry Company. LeaderSource had revenues
in 2006 of $3.5 million. Financial details of the transaction were not
disclosed.
"Korn/Ferry's acquisition of LeaderSource reinforces our commitment to
providing a broad range of solutions to our clients," said Paul C. Reilly,
Korn/Ferry's Chairman and CEO. "We now offer the largest executive coaching
network available under one talent management brand."
This latest venture follows Korn/Ferry's August 2006 acquisition of Lominger
Limited, one of the largest providers of leadership development tools for
individuals, teams and organizations. With the acquisition of LeaderSource,
Korn/Ferry's global network of executive coaches will reach nearly 200.
"This venture supports Korn/Ferry's long-term strategy of providing clients
an increasing array of talent management offerings," said Gary Burnison,
Chief Operating Officer of Korn/Ferry. "We will continue to add and develop
talent solutions that our clients are demanding."
LeaderSource was founded in 1977 to create an integrated approach to
transforming leaders, teams and organizations - an approach that led Fast
Company to call it the "Mayo Clinic of Leadership Development." Since then,
LeaderSource has consulted with hundreds of organizations globally and today
offers a full suite of customized coaching, leadership development and team
effectiveness programs.
"Joining Korn/Ferry gives us an outstanding opportunity to apply and expand
our services for our clients on a more global scale, and to be associated
with the talent management industry's most prominent brand," said
LeaderSource's Cashman.
"The addition of LeaderSource adds significantly to our growing leadership
development business by further expanding our executive coaching and
development offering," said Gary Hourihan, President of Korn/Ferry's
Leadership Development Solutions. "I know Kevin and his team will be
instrumental in taking this area of our leadership offering to new heights."
About Korn/Ferry International
Korn/Ferry International, with more than 70 offices in 40 countries, is a
premier global provider of talent management solutions. Based in Los
Angeles, the firm delivers an array of solutions that help clients to
identify, deploy, develop, retain and reward their talent. For more
information on the Korn/Ferry International family of companies, visit
www.kornferry.com.
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