 "Korn Ferry enters into definitive agreement to acquire Hay Group")
Global people and organisational advisory firm Korn Ferry today announced that it has entered into a definitive agreement to acquire Hay Group. The company said that with the addition of Hay Group, Korn Ferry will have an 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 entire leadership and people continuum.
Founded in 1943, Hay Group is one of the global leaders in people strategy and organizational performance. The firm has approximately 3,100 colleagues worldwide, with 88 offices in 50 countries, and holds management data in 114 countries.
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.
Gary D Burnison, CEO of Korn Ferry said, "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. 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."
He added that Korn Ferry, now with Hay Group, would have approximately 7,000 people. Korn Ferry currently operates in 78 offices in 37 countries and has approximately 3,900 employees.
"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," said Stephen Kaye, CEO of Hay Group.
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