AT Kearney completes MBO, names 11-member board

Global management consulting firm A T Kearney today announced the completion of a management buy-out (MBO) of the firm from its former parent company EDS.

"AT Kearney would now operate as an independent, privately-owned management consultancy with 100% of the equity owned by officers in the firm," an official release said today.

"Private ownership is the best model in today's management consulting environment," A T Kearney chief executive Henner Klein said, adding "completing this transaction marks the beginning of an exciting new chapter in A T Kearney's history."

"As an independent firm, we expect to tap the entrepreneurial spirit of officers and staff, delivering high-impact results requiring a combination of strategy, operations and technology expertise and thought leadership. We will continue to serve clients through one of the largest global networks and will maintain our overall geographic footprint," he added.

More than 170 A T Kearney officers from 26 countries participated in the transaction as investors. Financial details were not disclosed.

A 11-member board of directors elected by officers will serve as the primary governance vehicle for the newly-independent firm. While Klein will serve as chief executive, David Asper would be the chief financial officer.