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Korn/Ferry Adds LeaderSource to Strengthen Leadership Offerings
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.