PROPOSAL FOR RECRUITMENT FOR CITY MANAGER (RFP 45-97)
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
THE
CURTISS
GROUP
PROPOSAL
for
RECRUITMENT FOR CITY MANAGER
THE CITY OF CLEARWATER
(RFP 45-97)
550 North Reo Street, Suite 300 · Tampa, Florida 33609 · (813) 287-5049
I
I
Company name:
The Curtiss Group International
I
Company address:
(Headquarters)
301 Yamato Road, Suite 2112
Boca Raton, FL 33431
I
(Tampa Bay Regional Office)
550 N. Reo Street, Suite 300
Tampa, FL 33609
I
Primary contact:
John Farrell
Managing Partner - Tampa Bay Region
I
Phone number:
(813) 287-5049
Fax number:
(813) 287-5111
I
Year company established:
1980
I
Other company locations:
Ft. Lauderdale, FL
Jacksonville, FL
Orlando, FL
New York, NY
Sao Paulo, Brazil
I
The firm's focus and primary function:
I
The Curtiss Group, Inc. was founded in 1980 with the dear objective of providing executive
search services of the highest possible quality. Since that time, we have established an
outstanding reputation for integrity, for intensity of effort, and for an unyielding determination
to do the best possible job for our clients.
I
Our commitments are simple. They remain unchanged and will continue.
I
To provide executive search services of the highest quality to our clients, and to
complete each assignment successfully no matter how much time and effort are required;
I
To build relationships with our clients by earning their trust and keeping it;
I
To retain our outstanding professionals, hire new ones of the same caliber as needed by
our clients, and add value to the services they provide by emphasizing teamwork and
synergy.
I
The Curtiss Group, Inc. provides classic executive search consulting services -- retainer-based
only -- to its client corporations and organizations. Please note that we do not participate in
contingency recruiting or provide placement services to those seeking employment.
I
Executive Search Information
Executive search assignments by compensation level:
I
$50,000 - $75,000
$75,001 - $100,000
$100,001 - $150,000
above $150,000
2%
35~;)
35%
28%
I
I
I
I
Number of City Manager searches done in past five years:
One - (Vero Beach, Florida)
I
Number of City Manager searches for cities of 100,000 or more population:
I
None
Client references:
I
Mr. James Huff
Director, Human Resources
City of Vero Beach
(813) 567-5151 ext. 210
Mr. Brad Merriman
Director Employee Relations
& Personnel
Florida Board of County
Commissioners
(407) 233-4606
I
I
Mr. Frank Shaw, Jr.
Chairman, Search Committee,
Board of Directors
St. Joe Paper Corporation
(904) 386-1120
Mr. Tom Bailey
Vice President
Director Employee Relations
ITI Corporation
(904) 445-2622
I
I
Mr. Walter Revell
Board of Directors, Riscorp,
St. Joe Paper Corp., and Dycom
Industries
(305) 567-1888
Mr. Adam Aron
Chairman & CEO
Vail Resorts, Inc.
(former President of Kloster
Cruise, Ltd. - Miami)
(970) 845-2515
I
I
Descri ption of The Curtiss Group's search process:
I
Outlined below are the general steps or stages of a typical search process. The specifics
associated with a given step will vary based on the needs and preferences of the client
and on the nature and complexity of the assignment.
I
1. Develop an understanding of the client.
I
Through meetings and through all of the documentation you can make available to us,
the entire search team endeavors to develop an understanding of your organization,
history, and culture. This process continues through each step of the assignment as we
continue to learn about your business. There is a direct correlation between the degree of
client involvement and commitment and the success of the search process.
I
2. Define the organizational need.
I
It is important that we understand the organizational structure into which the
candidate must fit. In addition, it is helpful for us to understand your overall business
plan and how this individual will impact on the success of that plan.
I
3. Draft and review position specifications.
I
For each assignment, we discuss with you all aspects of the ideal candidate's
background and of the general structure and culture into which the person must fit. We
I
I
I
then write a draft of the position specifications which includes reporting
relationships, primary responsibilities, personal and professional qualifications, and
compensation. This draft is carefully reviewed with you and then serves as a guide to
our search effort. The position specification is a working document and may undergo
modification as the search proceeds.
I
I
4. Identify qualified candidates and select a benchmark.
I
After the search itinerary is developed -- which includes logical parameters such as
similar companies or similar company functions, geography, and so on -- we identify a
first-round of candidates that closely matches your requirements. The purpose is to
quickly locate a "benchmark" candidate for you to interview.
I
The benchmark candidate is a person who is as close to the specifications as possible in
skills, experience, and chemistry. We use the feedback from this initial interview to
refine our focus and to learn how you interview and evaluate candidates.
I
5. Schedule research meetings frequently throughout the search process.
I
We schedule research meetings with you as often as is appropriate throughout the
search process, but we prefer them to occur on at least a monthly basis. A t these
meetings, discussions normally include:
I
Review of search itineraries;
Results of candidate interviews;
I
Re-examination of position specifications based on an
analysis of the research to date and on the results of
candidate interviews;
I
Direction and strategy of future search efforts.
I
The initial research meeting should be held as soon as possible after the benchmark
candidate has been interviewed.
I
6. Accelerate the research process to identify and interview candidates.
I
We continue the development of our research and identify the most qualified
candidates for our evaluation. No candidate is presented to you without having been
extensively interviewed by at least one (usually two) of the senior consultants involved
in the assignment. In each case, your first meeting with a candidate is preceded by a
written profile and a subjective evaluation (written or oral, as agreed upon).
I
This phase of the search also includes the development of informal references. This
helps in our evaluation, but is designed to avoid compromising any of our potential
candidates.
I
7. Select, negotiate, and close.
I
I
After selection of a final candidate, formal references are completed and submitted to
you. In order to expedite the process, we prefer to remain closely involved in
negotiating all issues affecting employment (e.g. compensation, employment contracts,
relocation, etc.).
I
I
I
You make the decision as to whether you wish to extend the offer of employment or
whether you would prefer us to extend the initial offer (based on your policy, on an
analysis of negotiations to that point, and on the probability of acceptance).
I
I
Role of The Curtiss Group after submitting top quality, interested candidates to the City of
Clearwater:
I
We continue to communicate actively with the candidate until acceptance and until the initial
date of employment is established. We also monitor the candidate in the period between
acceptance and start of employment.
I
With your approval, we remain in contact with the successful candidate throughout the first
year of his or her employment. By keeping lines of communication open, we are able to identify
any potentially serious problems that may develop.
I
The Curtiss Group staff members who will be assigned to City of Clearwater search:
I
Robert L. Beatty, Jr.
Managing Partner
I
Robert 1. Beatty, Jr. joined the Curtiss Group as Managing Partner in April 1991, after three
years as Senior Vice President of E.J. Rhodes Associates, an executive search firm in New York
that specializes in general, senior management assignments as well as in investment banking
and other finance-related assignments.
I
Prior to his years as an executive search consultant, Mr. Beatty was Executive Vice President,
U.S. Operations, with International Bioaccess, a start-up corporation in the high technology
field, headquartered in New York, that manufactured and marketed computer-related products
for corporations and for government defense and intelligence agencies. As one of the founding
executives, he had P&L responsibility for all domestic operations, to include the research and
development effort in Palo Alto, California. His client base was evenly split between the
private sector and the Federal Government, and his duties included substantial involvement
with the venture capital community on behalf of the corporation.
I
I
I
Mr. Beatty's tenure with International Bioaccess culminated 12 years of experience in general
management with W. R. Grace & Co., with the Data Processing Division of IBM, and with
Wang Laboratories, Inc. At Wang Laboratories, Mr. Beatty successfully built and managed the
national accounts organization in New York that had line responsibility, world-wide, for their
largest national and international accounts. His relationship with W. R. Grace & Co., which
has remained close over the years, precipitated his move from New York to southern Florida in
the spring of 1991.
I
, I
I
Mr. Beatty's corporate career followed five years of infantry and special forces assignments in
the United States Marine Corps. He left the service as a Vietnam veteran with the rank of
Captain.
I
Mr. Beatty holds a B.A. degree from Amherst College. He and his wife, Michele, have three
children and live in West Palm Beach.
, I
II
I
I
John A. Farrell
Managing Partner - Tampa Bay Region
I
Mr. John A. Farrell has been with the Curtiss Group International since November 1987. His
prior experience includes 19 years of business and finance-related positions in the private sector.
As one of our senior partners, he concentrates on the financial services industry, has consulted on
a broad range of genera] management assignments, and lends his expertise to the U.S.
Department of State, an established client of the Curtiss Group.
I
I
Previously, Mr. Farrell was with the Bank of Beverly Hills in California, directly responsible
for the bank's commercia] loan and commercia] mortgage production as well as for all business
development activity related to corporate banking. Prior to the Bank of Beverly Hills, Mr.
Farrell was a member of the Wells Fargo Bank, Commercia] Banking Division. He was
responsible for the bank's middle-market business development production in Centra] Los
Ange]es and Long Beach. In his 12 years of commercia] banking, he and the various groups he
managed were involved with loan underwriting, correspondent banking, product development,
commercia] mortgage production, business development management and training.
I
I
Mr. Farrell's banking career on the West Coast began with Union Bank after he was recruited
away from Xerox Corporation in San Francisco. This followed his early career in sales and
marketing management with Xerox in Washington, D.C., where his performance was
repeatedly recognized with both regional and national awards.
I
I
Mr. Farrell holds a B.A. degree from the University of Mary]and. He lives in Tampa.
I
David B. Miner
Partner
I
Mr. Miner brings 10 years of "Big 6" and entrepreneurial management consulting experience to
our firm. Our newest partner, he joined the firm in 1996 and will be relocating to Paris this fall
in order to open a Curtiss Group Internationa] office on the European continent. This new office
will complement and augment our existing partners there as well as work closely with our other
partners throughout the continent and in the United Kingdom.
I
Most recently, Mr. Miner spent four years as a principal of the Moore Research Group in
Philadelphia. With primary responsibility for clients in the northeastern United States, he
coordinated and managed confidential executive search and management consulting
engagements in a variety of fields. He also has extensive experience in MIS and in the genera]
world of high technology, strengths that Mr. Miner will bring to bear for us abroad.
I
I
Prior to the Moore Research Group, Mr. Miner was a Manager in the Management Consulting
Services practice of Price Waterhouse in Chicago. He began his career in Audit Services, but
moved quickly to MCS, where he spent five of his six years at PW. His responsibilities
included managing a variety of information technology projects for Fortune-1DD clients as well
as for smaller firms in a wide range of industries.
I
I
Between his undergraduate and graduate educations, Mr. Miner was a history teacher and a
track coach at St. Paul's Schoo] in Concord, New Hampshire.
I
Mr. Miner has traveled extensively abroad and is fluent in French. His undergraduate degree in
Near Eastern and Is]amic history is from Yale University and his MBA is from the Fuqua
Schoo] of Business at Duke University.
I
Mr. Miner is married with one daughter and lives in Boca Raton.
I
I
I
Preliminary meetings with representatives of the City of Clearwater:
I
The Curtiss Group will arrange a meeting with each of the council members and officials who
will have an active role in the search process and selection of the new City Manager. We
believe it is important to not only fully understand the duties and responsibilities of the
position, but to also be acquainted with the individuals who will become the City Manager's
new associates.
I
Face-to-face interviews with selected candidates:
I
All candidates who meet the requisites of the position and have expressed interest in the City
Manager's position will be interviewed after a preliminary reference check has been made. We
believe this is an essential part of the process because it allows us to evaluate the candidate's
communication skills and professional deportment.
I
I
How candidate interest is determined:
I
Candidates who hold similar public administration responsibilities with other municipalities
will be subject to the Florida "Sunshine Law" which makes their candidacy a public record and
should eliminate those individuals having only passive interest in the job. For those who do
not fall into this catagery, a careful assessment of the candidate's reasoning and motivation to
pursue the job will be used to determine their interest.
I
Nature of candidate background review:
I
Employment confirmation, professional reference checks and education verification are
provided as part of The Curtiss Group's standard search service. Though some clients prefer to
check credit and criminal history using their own sources, we will be happy to provide these
reports as well as drug testing and psychological evaluations on a net cost basis.
I
I
Additional consulting services provided:
I
Over the years The Curtiss Group has provided our clients with assistance in establishing
procedures for interviewing, evaluating and selecting candidates. We can also assist in
determining whether additional evaluations such as drug testing and psychological testing
should be included in the search process.
I
Cost
I
Retainer fee:
I
The Curtiss Group will conduct the City Manager search for a flat fee of $22,500 plus
reimbursement for direct out-of-pocket expenses. The retainer is payable in three installments:
one-third payable at the inception of the assignment; one-third at thirty days; and the final
third upon completion of the assignment (upon formal offer and acceptance of offer).
I
I
I
I
I
Reimbursable costs:
I
All direct expenses incurred in the course of the assignment (i.e. telephone, mail, interview
expenses, etc.) will be itemized and billed on a monthly basis. With the exception of these
direct, out-of-pocket expenses, no other fees apply.
I
No single expense item exceeding $200 will be incurred without prior approval of the City of
Clearwater. This procedure will allow monitoring and control of expenses without need to
establish an arbitrary expense cap.
I
No projected travel expenses have been estimated for this search assignment.
I
Guarantee
The Curtiss Group offers an unconditional performance guarantee:
I
If the employment of any Curtiss-selected executive ends - for any reason whatsoever,
either voluntary or involuntarily - within one full year from the initial date of hire,
the Curtiss Group, on request, will replace that executive at no additional cost to the
City of Clearwater, except for direct expenses.
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
CI'I-TE C:CHTISS C~RO{JP INTERNATIONAL
E::\l'T:UTIVL .')r_-\T~(,I-I C(.);'-J':--til.TIl'\(: \\'i)IU,!)\\'lIH
~,joRTHEr~I'! TRUST
301 YAMATO F~O/,D
BOCA R,<\TON. FL
(561) 997-0011
FA.X (551) 9~J7-0087
CONTENTS
Introduction
Why The Curtiss Group?
The Search Process
Representative Clients
Principal Biographies
1..05 ;-\1\lGCLES
I
I
__J
\11[1'.11-1/\ 2URICI-I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
INTRODUCTION
The Curtiss Group, Inc. was founded in 1980 with the clear objective of
providing executive search services of the highest possible quality. Since that
time, we have established an outstanding reputation for integrity, for
intensity of effort, and for an unyielding determination to do the best possible
job for our clients.
Our commitments are simple. They remain unchanged and will continue.
To provide executive search services of the highest quality to our
clients, and to complete each assignment successfully no matter how
much time and effort are required;
To build relationships with our clients by earning their trust and
keeping it;
To retain our outstanding professionals, hire new ones of the same
caliber as needed by our clients, and add value to the services they
provide by emphasizing teamwork and synergy.
The Curtiss Group, Inc. provides classic executive search consulting services --
retainer-based only -- to its client corporations and organizations. Please note
that we do not participate in contingency recruiting or provide placement
services to those seeking employment.
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
WHY THE CURTISS GROUP?
· We have never failed to fill an assignment in our history as a firm.
This is an extraordinary achievement when compared with a
published industry average of an 80-85% completion rate year after
year.
· This record of success is backed by strict adherence to a stringent code
of fundamental ethics and professional practices.
· Our client base reflects a broad range of industries, from banking,
medical, genetic engineering, and consumer products, to insurance,
government, real estate, and high technology. And we have
handled assignments for this client base in all management
functions.
· Each of our senior officers brings many years of executive-level,
business experience to bear on your requirements. These
professionals include senior line executives and directors of Fortune
500 companies, senior human resource executives, and successful
entrepreneurs of national and international businesses. All of us
have substantial experience as hiring managers ourselves in our
former careers. Quite simply, there are no consultants at The Curtiss
Group who did not spend many years on your side of the desk first.
And we think this is a prerequisite to providing the level of expertise
and service that any client should expect of a quality search firm.
· Our goal is long-term relationships with a small and select number
of clients. As a result, we offer these clients a broader research base
from which we can select our candidates. Since ethical standards in
the classical search world demand that client companies may never
be contacted on behalf of other clients, the large search firms are
restricted in their recruiting efforts by client exclusions which
substantially reduce the number of potential candidates they can
approach on your behalf. Our controlled and limited client roster,
on the other hand, guarantees you the widest possible industry base
to be searched for your specific requirements.
· We offer our clients the same quality of service for assignments at
most levels of management. As a result, we eliminate the need for
our clients to work with contingency firms or personnel agencies if
compensation for a certain position happens to be below the arbitrary
levels set by our competitors. By developing this multi-level
relationship with our clients, we achieve a much more
comprehensive understanding of their business and their culture.
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
. We prefer to conduct a search process which is highly interactive
with our client. We recommend a greater number of interviews
than is traditional, more frequent research meetings, and as much
client commitment and involvement as possible. Our experience
with clients who will participate to this level has been that they take
full advantage of the significant added value we can provide
throughout the assignment, and that they usually end up with
results that go well beyond simply the right person for the position.
. We ensure that the partners of the firm take primary, hands-on
responsibility for each and every client. They are involved in all of
the preliminary meetings with you and in all of the subsequent
search activities.. We do not have partners or senior officers who sell
the services of our firm and other associates who then manage the
assignment.
. We charge 33 1/3% of the first year's compensation, plus expenses
(which, because of our approach to search, are substantially lower
than the industry standard). In addition, we offer an unusual variety
of contractual alternatives which are negotiated based upon a
combination of factors, including the complexity of the assignment
and our clients' needs.
. Unlike any other firm in our industry that we know of, we offer a
unique guarantee: If -- during the first 30 days of any search
assignment -- you are unhappy with the quality of our research or
the level of our service, we will cancel the search and refund all
retainers paid to that point. And we will put this guarantee in
writing.
. Finally, if the employment of any Curtiss-selected executive ends,
either voluntarily or involuntarily, within one year from the date of
hire, we will reconduct a full search and replace that executive for
billable expenses only.
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
THE SEARCH PROCESS
Outlined below are the general steps or stages of a typical search
process. The specifics associated with a given step will vary based on
the needs and preferences of the client and on the nature and
complexity of the assignment.
1. Develop an understanding of the client.
Through meetings and through all of the documentation you can
make available to us, the entire search team endeavors to develop an
understanding of your organization, history, and culture. This process
continues through each step of the assignment as we continue to learn
about your business. There is a direct correlation between the degree of
client involvement and commitment and the success of the search
process.
2. Define the organizational need.
It is important that we understand the organizational structure into
which the candidate must fit. In addition, it is helpful for us to
understand your overall business plan and how this individual will
impact on the success of that plan.
3. Draft and review position specifications.
For each assignment, we discuss with you all aspects of the ideal
candidate's background and of the general structure and culture into
which the person must fit. We then write a draft of the position
specifications which includes reporting relationships, primary
responsibilities, personal and professional qualifications, and
compensation. This draft is carefully reviewed with you and then
serves as a guide to our search effort. The position specification is a
working document and may undergo modification as the search
proceeds.
4. Identify qualified candidates and select a benchmark.
After the search itinerary is developed -- which includes logical
parameters such as similar companies or similar company functions,
geography, and so on -- we identify a first-round of candidates that
closely matches your requirements. The purpose is to quickly locate a
"benchmark" candidate for you to interview.
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
The benchmark candidate is a person who is as close to the
specifications as possible in skills, experience, and chemistry. We use
the feedback from this initial interview to refine our focus and to learn
how you interview and evaluate candidates.
5. Schedule research meetings frequently throughout the search
process.
We schedule research meetings with you as often as is appropriate
throughout the search process, but we prefer them to occur on at least a
monthly basis. At these meetings, discussions normally include:
Review of search itineraries;
Results of candidate interviews;
Re-examination of position specifications based on an
analysis of the research to date and on the results of
candidate interviews;
Direction and strategy of future search efforts.
The initial research meeting should be held as soon as possible after the
benchmark candidate has been interviewed.
6. Accelerate the research process to identify and interview candidates.
We continue the development of our research and identify the most
qualified candidates for our evaluation. No candidate is presented to
you without having been extensively interviewed by at least one
(usually two) of the senior consultants involved in the assignment. In
each case, your first meeting with a candidate is preceded by a written
profile and a subjective evaluation (written or orat as agreed upon).
This phase of the search also includes the development of informal
references. This helps in our evaluation, but is designed to avoid
compromising any of our potential candidates.
7. Select, negotiate, and close.
After selection of a final candidate, formal references are completed
and submitted to you. In order to expedite the process, we prefer to
remain closely involved in negotiating all issues affecting employment
(e.g. compensation, employment contracts, relocation, etc.).
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
You make the decision as to whether you wish to extend the offer of
employment or whether you would prefer us to extend the initial offer
(based on your policy, on an analysis of negotiations to that point, and
on the probability of acceptance).
We continue to communicate actively with the candidate until
acceptance and until the initial date of employment is established. We
also monitor the candidate in the period between acceptance and start
of employment.
8. Follow-up
With your approvat we remain in contact with the successful
candidate throughout the first year of his or her employment. By
keeping lines of communication open, we are able to identify any
potentially serious problems that may develop.
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
REPRESENTATIVE CLIENTS
Alexander Proudfoot
American Express
American Title Insurance
Arvida Corporation
Bessemer Trust
Capital Bank
Citibank
City of Lake Mary
City of Vero Beach
Coca Cola U.s.A.
Coulter Electronic
County of Palm Beach
Dun & Bradstreet
Dycom Industries, Inc.
Encore Computer
First Union National Bank
FPL Group
Gulfstream Housing Corporation
HIP Health Plan of Florida
Holy Cross Hospital
IBM PC Company
ISR Global Telecom
ITT
JM Family Enterprises
John Alden Financial Services
Kloster Cruise Ltd.
Knight -Ridder
Lennar Corporation
Lockheed Martin Corporation
McDonald's Corporation
Motorola
North Broward Hospital District
Northern Telecom
Pepsi-Cola International, Latin America
Price Waterhouse
Racal-Milgo
Royal Caribbean Cruises Ltd.
Ryder System, Inc.
Scientific Atlanta
Sensormatic Electronics Corporation
Siemens Corporation
Simon & Schuster
St. Joe Corporation
(formerly St. Joe Paper)
Sylvania Lighting International
Telematics International
Tropical Shipping Company
United Technologies
U.s. Department of State
Value Rent-A-Car
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
THE CURTISS GROUP IIC
WILLIAM E. FRANK,JR.
PRESIDENT
William E. Frank, Jr. founded the Curtiss Group
lIC in January 1980 for the sole purpose of
providing the highest quality executive search
services in the state of Florida. His initial focus on
quality retained search in the region was so
successful that demand for the firm's services grew
nationwide. This reputation was further enhanced
when the Curtiss Group was selected as the first
executive search firm ever authorized by the
Federal Government to work on a retainer basis.
That client was the U.S. Department of State, and
today-through a major international alliance of
search professionals-the Curtiss Group has
offices in over 20 principal cities throughout the
world. During his many years in executive search,
Mr. Frank has completed more than 300
assignments for a wide variety of corporations and
organizations - in both the private and public
sectors and in most management functions.
Prior to founding the Curtiss Group, Mr. Frank was the Vice President of
Human Resources for the lIT Corporation, a position he held for seven years.
During his time with lIT, he had the distinction of being the youngest vice
president in the history of the corporation. His previous experience included a
variety of senior human resources positions - all of them employment and
recruiting related - for the Allis Chalmers Corporation and for Wometco
Enterprises, two other Fortune 500 companies. Combined with his tenure
at the Curtiss Group, Mr. Frank has over 25 years of executive-level recruiting
experience.
Mr. Frank holds a B.A. degree from Pennsylvania State University and has
been a Florida resident for close to 30 years. He and his wife, Lesley, have two
children and live in Boca Raton.
lie $ EXECUTIVE SEARCH WORLDWIDE. AMSTERDAM. BANGKOK. BUENOS AIRES. CHICAGO, COPENHAGEN. DALLAS. FRANKFURT. HAMBURG. HONG KONG. JAKARTA. LONDON
LOS ANGELES. MADRID. MEXICO CITY, MILAN. NEW YORK. OSLO. PARIS. SAN FRANCISCO. SAD PAULO. SINGAPORE. STOCKHOLM. TOKYO. TORONTO. VIENNA. ZURICH
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
THE CURTISS GROUP IIC
ROBERT L. BEATTY, JR.
MANAGING PARTNER
Robert L. Beatty, Jr. joined the Curtiss Group as
Managing Partner in April 1991, after three years
as Senior Vice President of E.J. Rhodes Associates,
an executive search firm in New York that
specializes in general, senior management
assignments as well as in investment banking and
other finance-related assignments.
Prior to his years as an executive search
consultant, Mr. Beatty was Executive Vice
President, U.S. Operations, with International
Bioaccess, a start-up corporation in the high-
technology field, headquartered in New York, that
manufactured and marketed computer-related
products for corporations and for government
defense and intelligence agencies. As one of the
founding executives, he had P&L responsibility for
all domestic operations, to include the research
and development effort in Palo Alto, California. His client base was evenly split
between the private sector and the Federal Government, and his duties
included substantial involvement with the venture capital community on
behalf of the corporation.
Mr. Beatty's tenure with International Bioaccess culminated 12 years of
experience in general management with W. R. Grace & Co., with the Data
Processing Division of IBM, and with Wang Laboratories, Inc. At Wang
Laboratories, Mr. Beatty successfully built and managed the national accounts
organization in New York that had line responsibility, world-wide, for their
largest national and international accounts. His relationship with W. R. Grace
& Co., which has remained close over the years, precipitated his move from
New York to southern Florida in the spring of 1991.
Mr. Beatty's corporate career followed five years of infantry and special forces
assignments in the United States Marine Corps. He left the service as a
Vietnam veteran with the rank of Captain.
Mr. Beatty holds a B.A. degree from Amherst College. He and his wife, Michele,
have three children and live in West Palm Beach.
lie e EXECUTIVE SEARCH WORLDWIDE. AMSTERDAM. BANGKOK. BUENOS AIRES. CHICAGO. COPENHAGEN. DALLAS. FRANKFURT. HAMBURG. HONG KONG. JAKARTA. LONDON
LOS ANGELES, MADRID. MEXICO CITY. MILAN. NEW YORK. OSLO, PARIS. SAN FRANCISCO. SAD PAULO. SINGAPORE. STOCKHOLM. TOKYO. TORONTO. VIENNA. ZURICH
I
I
I
I
I
I
II
I
I
I
I
I
I
I
I
I
I
I
I
Our Partners
Lynn H. Bentley
Partner
Lynn H. Bentley has been with Curtiss Group International since August
1988. His prior experience includes 20 years of business and management
related positions in the consumer products, pharmaceutical, chemical, and
high technology industries. As one of our senior partners, he concentrates on
the high technology industry and has consulted on a variety of general and
organization management assignments.
Previously, Mr. Bentley was Director of Human Resources/ Administration
for Gould Electronics for Business Units based in Boston and Ft. Lauderdale.
He was responsible for development of leading edge human resources and
administrative services programs for domestic and international operations.
Prior to Gould, he was with Exxon Enterprises and responsible for
development of a start-up software systems organization.
Before Exxon, Mr. Bentley held a variety of management positions with
Warner Lambert, Harris Corporation, Pfizer, Inc. and The Gillette Company.
His combined consulting and industry experience has included business
development, marketing, information systems, human resources
management, as well as start-up and development projects and businesses.
Mr. Bentley served as a Naval Officer with both ship-based and land-based
assignments.
Mr. Bentley holds B.A. and M.A. degrees from the University of Minnesota
and completed an Executive MBA program at Northeastern University. He
and his wife, Dorothy, have two children and live in Boca Raton, Florida.
Joseph M. Bujold
Partner
Mr. Bujold joined the Curtiss Group International following an eighteen-year
career with Proudfoot PLC, a leading international management consulting
firm. His professional association with the Curtiss Group includes several
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
years as a client, prior to joining us as a partner of the firm and as one of our
senior search consultants.
At the time of his retirement in September 1995, Mr. Bujold was serving as
Group President Americas with responsibility for all operations in North and
South America. Previously, he was Chief Executive of the Alexander
Proudfoot Company where he supervised company operations in thirty-five
countries worldwide. The company, employing 1,200 full-time professionals,
annually performed more than 200 assignments in all industrial sectors.
From 1979 to 1989, Mr. Bujold, fluent in French, lived abroad. The five-year
period in Brussels, when he headed European operations-Proudfoot's
largest-was followed by the start-up of the company's business units in the
Pacific, five Southeast Asian countries, and, notably, Japan.
Mr. Bujold has strong Maine and New England roots. He spent ten years with
the Bass Shoe Company in Wilton, Maine, ending his career there as
President. His earlier consumer products experience was with the
Hathaway Shirt Company of Waterville, Maine.
He, and his two grown children, are graduates of Middlebury College. His
wife of thirty years is a Colby College graduate where she continues to be
actively involved, currently serving as a trustee of their art museum.
Mr. Bujold served in the U.s. Army as a rifle company commander.
He and his wife live in North Palm Beach, Florida, but continue to spend
their summers in Maine.
John A. Farrell
Partner
Mr. John A. Farrell has been with the Curtiss Group International since
November 1987. His prior experience includes 19 years of business and
finance-related positions in the private sector. As one of our senior
partners, he concentrates on the financial services industry, has consulted
on a broad range of general management assignments, and lends his
expertise to the U.s. Department of State, an established client of the
Curtiss Group.
Previously, Mr. Farrell was with the Bank of Beverly Hills in California,
directly responsible for the bank's commercial loan and commercial
mortgage production as well as for all business development activity
related to corporate banking. Prior to the Bank of Beverly Hills, Mr. Farrell
was a member of the Wells Fargo Bank, Commercial Banking Division.
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
He was responsible for the bank's middle-market business development
production in Central Los Angeles and Long Beach. In his 12 years of
commercial banking, he and the various groups he managed were
involved with loan underwriting, correspondent banking, product
development, commercial mortgage production, business development
management and training.
Mr. Farrell's banking career on the West Coast began with Union Bank
after he was recruited away from Xerox Corporation in San Francisco. This
followed his early career in sales and marketing management with Xerox
in Washington, D.C., where his performance was repeatedly recognized
with both regional and national awards.
Mr. Farrell holds a B.A. degree from the University of Maryland. He lives
in Fort Lauderdale.
Donald J. Franza
Partner
Mr. Franza is the former Vice President and Chief Financial Officer of the
Brazilian operations for Nabisco International. He repatriated to the US.
after 20 years abroad with Nabisco (Brazil), Richardson-Vicks (Brazil), and
Coca-Cola (Puerto Rico).
He began his career in 1972 with Coca-Cola International as a senior financial
systems analyst and subsequently held progressively responsible positions in
the international sector and in international finance. Among other duties
during these years, he was Operational Auditor in Sydney, Australia for the
Australian bottling and canning operations as well as chief of accounting at
Coca-Cola's headquarters in Atlanta. Mr. Franza's tenure with Coke
culminated in his promotion to Assistant Finance Manager of Coca-Cola
International de Puerto Rico in San Juan.
In 1977, Mr. Franza was recruited from Coca-Cola to become the Area Finance
Manager-Latin America for Richardson-Vicks in Connecticut. In this
capacity he was responsible for the financial affairs of all Latin American
operations. Subsequently, he was promoted to Chief Financial Officer for
their Brazilian subsidiaries, which were operating in Rio de Janeiro.
In 1982, Mr. Franza joined Nabisco International-Brazil as Chief Financial
Officer and was instrumental in the restructuring of the Nabisco Brazilian
Companies. In addition, he spearheaded the acquisition program and
contributed heavily to the growth of these operations.
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
Mr. Franza received his Bachelor of Business Administration and then his
MBA in Finance from Adelphi University, Garden City, New York in 1972.
Some years ago, he co-founded a charity for underprivileged people in Brazil
and served four years on the Board of Directors of "The American School of
Rio de Janeiro." Mr. Franza is fluent in both Portuguese and Spanish.
Mr. Franza and his wife -a physician with a specialty in psychiatry-live in
Boca Raton and keep a mountain home in Itaipava, Brazil. They have five
children; two of whom still live at home.
1. Lewis Katz
Partner
Lewis Katz joined the Curtiss Group International in the summer of 1996
following a twenty-five-year business and engineering career.
For fourteen years, he was with the American Express Company in New York
City at their corporate headquarters and in Florida at the regional
headquarters for Latin America.
He held increasingly responsible positions in business analysis, finance,
planning, and business development, and he travelled extensively
worldwide, interfacing with local management. He also interacted closely
with the operating and processing centers in the U.s.A. In addition, he
recruited MBAs to American Express from MIT, Harvard, Carnegie Mellon,
and New York University.
For three years, Mr. Katz was the Chief Financial Officer for a not-for-profit
organization in Boca Raton, Florida.
At the beginning of his career, Mr. Katz worked as an engineer and was
involved in the design of fossil and nuclear power plants with Westinghouse
Electric Corporation in Pittsburgh, Pennsylvania and with Gibbs & Hill, Inc.
Born in Eastern Europe (Romania), Mr. Katz holds a Master of Science in
Engineering from the Polytechnic Institute of Bucharest, Romania, as well as
a Master of Business Administration from New York University. In addition
to English, he is fluent in Romanian and has a working knowledge of Italian,
French, and Spanish.
Mr. Katz is married to Gabriela, a Board Certified internist and attending
physician at St. Mary's and Good Samaritan Hospitals in West Palm Beach,
Florida, and a partner in the University Clinical Associates. They live in Boca
Raton with their son, Robert.
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
David B. Miner
Partner
Mr. Miner brings 10 years of "Big 6" and entrepreneurial management
consulting experience to our firm. Our newest partner, he joined the firm in
1996 and will be relocating to Paris this fall in order to open a Curtiss Group
International office on the European continent. This new office will
complement and augment our existing partners there as well as work closely
with our other partners throughout the continent and in the United
Kingdom.
Most recently, Mr. Miner spent four years as a principal of the Moore
Research Group in Philadelphia. With primary responsibility for clients in
the northeastern United States, he coordinated and managed confidential
executive search and management consulting engagements in a variety of
fields. He also has extensive experience in MIS and in the general world of
high technology, strengths that Mr. Miner will bring to bear for us abroad.
Prior to the Moore Research Group, Mr. Miner was a Manager in the
Management Consulting Services practice of Price Waterhouse in Chicago.
He began his career in Audit Services, but moved quickly to MCS, where he
spent five of his six years at PW. His responsibilities included managing a
variety of information technology projects for Fortune-lOa clients as well as
for smaller firms in a wide range of industries.
Between his undergraduate and graduate educations, Mr. Miner was a history
teacher and a track coach at St. Paul's School in Concord, New Hampshire.
Mr. Miner has traveled extensively abroad and is fluent in French. His
undergraduate degree in Near Eastern and Islamic history is from Yale
University and his MBA is from the Fuqua School of Business at Duke
University.
Mr. Miner is married with one daughter and will live in Paris.
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
Barry S. Wilder
Partner
Mr. Wilder joined the Curtiss Group International in 1996 with responsibility
for opening our New York office and for expanding our practice into the
Northeast financial services arena. While the Curtiss Group has long enjoyed
a solid financial services practice in the Southeast, we have not had,
heretofore, a physical presence in New York or on Wall Street. Mr. Wilder
will split his time between our South Florida headquarters and our New York
office.
Mr. Wilder spent the last six years as a partner with Rhodes Associates, Inc. in
New York City, a retained executive search firm that specializes in financial
services-specifically real estate finance-and concentrates on the investment
banking community. At Rhodes Associates, Mr. Wilder's clients included
Goldman Sachs, J.P. Morgan, Bankers Trust, Cushman & Wakefield, and
LaSalle Realty Advisors.
Prior to this experience as a financial recruiter, Mr. Wilder had 11 years of
experience in finance and real estate, most recently as a Senior Vice President
of Cushman & Wakefield, Inc., where he served as Director of Corporate
Real Estate Consulting nationwide. Earlier, he was a Vice President at
Salomon Brothers Inc. and an Associate at Goldman, Sachs & Co.
Mr. Wilder holds an A.B. degree from Princeton University, as well as a
Masters degree in Architecture and an MEA, both from Harvard University.
In addition, Mr. Wilder served as Captain in the United States Army.
Mr. Wilder has two grown children and maintains residences in Manhattan
and Miami.
~
~
~
s
?j
OJ
co
~
~
~
s
[)
.....
~
g
'"tj
e
~
- 1 a
~
~
It) ]
0)
0)
.....
...,. ~
N
I-
en
::J ~
C)
::J
<(
~ 8
Cl
en e
0::
::J
I ~
I-
u.
0
~
w
w
~
1II0~~:g~ :i..!u....2~-5 '."us::Co)
o 1lO ::I ~o III;':: O;!:-;: Co) :i III R ~ a 8's
o "ii - c. = ~ 0 g.!::.,I:lY 8 III 0
0":'9 U e~" ';::1 U Eo-< ~ '8 u u s::
o::z:: "'"'" ".~...o s::1II r;_,D<<l~.
~ .,.g 0 ~ ~ ~ 0 ~ U => 0 ~ :D.s 0 u ~ 8
il"t':; - => ~.- u 1:::1 e _ 5 _ g III III ....c: ....-
.-:;c.....~.. ....;.::iic........::oc c:I::I ............
:i "'0 0 III c'" Co) '" 8 .:;: (I) U 8' ~..c: f.::!
0'- _ a u a ; III ~ III ... C. u i III,D.<;: ::I i
~ = B,.g a u 0 ~'C c8"s:: 8 -5 ;: u a ~ 8 1lO
~.,,_~~ 00 u~~_ UaUH ~
1lO ,,".- "..g U l5 1lOii: U ~ III 0 a III U 0
s:: - '" . ..c: l,;;, -...e "ii n ._ "'0 _
.- 8 U 0 '" - III ...- 1lO 1lO ::I Q U - ell s::
e a l:: U 1:: - ~:'9 -= .... ~ .S .5 ~,D > '-a ~ ua
III - '-::1 -::Z::::1 --~ s:: .-
U ~ ~ -6'~ 0 ~ 0 .S U 8 ~ 0 ~ ~ :-;:" 8-
uouo",oo~(I)"'~~u_u-~ Co)
~ l;; ~~:; llOQ.a:::Eo BO\ ~ >-.~~ c ~ ~ g'i
-5 ~..g ~ -a B u :: ~ ~ z .a ::z:: J a a u ~
e b.:.s,.g c e. ~ c,.g ;..2 ~ .S"1Il o~ c..."
III~ _u- ~u 00 ~-III uu
_ C. u. 8"ii 0 .- ~ ..c: u III - U a u
~ III a c ... >.:'9 ~ u..c:" 1lO ~ ~ -; e III u >-
Zu ::l .2 "= !!\!:I: u Co) _ " 0"'0 1lO_
u ... - i) -. ~-5 l;; '_oc 2 '" III -.- III ~
H U Co) a H" -" .- 0 t: s:: a
~,.g H ... U ~:::E ~$ ~ ~ - ~ ; :::E ..( ilia u
'u ~""'"s:I ~'8 u" a - ; "'0 Bill>
B ... g.5 eta e ~ 8 8 0 ~..c: ~~ g" 1 cS ~
1lO ~ >, - a c::: e: - Co) 0 ".:: 111_ ",_u
III 0" III.".. "',.,'- III H 0 ~... .... - I
- t;:: ':::.c u u.::: g S':f u ~ '" e:'~ 8'; 8 u
e: a- - Ill..:: ~ .",D ... '" .- 111._._ '" - >
u >, u 0.... >,._ III U ..c:,D'" '" 0 >,':;:
8 Co) u g..c: > ~ ~!l! B u ~ "'"'o:€ _'> 1lO-:: ::l
>. e: - e: a ~ - :> "'0 ~ U ...- - .. Co)
o u u." "'"' .- - >';;> e: . u III "'O.a 0 u
Q.~.~,.g o:;~ ~ ~;~ III ~ e~'c llOx~ ~
a.;:: Co) Co)..c:'- >- . Eo-< u c.-ci u Co) 0 ::I u.S ;;>
u s:: u ~ "0 1:: - ] ~ ~ a._ a 0 (I) u a 1lO ~ ~ "'0
"0 8 ~ a,D ~ 8 '" .: 8 =.:;: a .S <~:::E ;
e: u s:I '" I III III "'0 '" :>. >, 1lO- - "'"' . - '"
.- a c ~ 1lO e: .- ..... a e: u e: 0 H U !
"<<i 'C .s .s g <iU" III ~.- 0'0 aU",:::E a
..J c. ~ 1lO OQ:::: ..c:'C 5 c"'O 0 a ~ 0
BIIIIII .u'iic.Co)uf8uC~ .,,"~"ii
~"'I:a:;..c:"'::ll;;aoUl;;ulII aue:
._'- ~ - - == e U < c. c. e: C ~ C..9
.~.a 1lO..c:~1 t-' "'.s g.-.s.2 ~ e ';0;: e~
~'C e:"ii "'0 0 ~ '" U - - e: III a III III
e.sa:.c e: ; ~.c.:.~ j ~ 0" ~..c: ,..::. ..c: ~ J::
~ c.~ :i.9 Co)..c -= ~ 8 ~ l;;.;! a "'"ii 8 ~.!:: e
w~-5..2~,D:;~uu~anO~::l ~~~oa
m~::l"'UOo ~CIII~Co)~'" -",.
woo ~ ...... 1lO"'O] U t;:: ,..:; "'0 _::l U "'0 U
...J U (I) .. ~ ~ C'; - Cl) ~ e: III "'0 ~ u';..c:
...J '" "..g c...g Cl) '" e: "'0 llO t:IO III e: III > '" -"
~ ; ~ _ >, 1lO > ~ .;:.;:.,5 ~.s ..21111 ~ U'';:: 0 :;
z Co)'C u..c e: Cl) "Cl) ~ - ._ "'O..c III . => ::l 1lO...
< U ~ .- - >, t=; "'0 ::I a ::l III '" '" "ii Co)
O<<lel;;~~~~~~~0~~~~~~~"'05
~ < a ;.sa ~ ~ ~ 8 ~ ~.= ~ g g ~ x :
VOL. 42 NO. 62 . 51.00
MONDAY. NOVEMBER 2
THE NEWSPAPER OF ENTERPRISE, REAL ESTATE AND LAW
Board members must get
serious about planning
UNTIL recently, it was common for
public companies' board meet-
ings to resemble social gatherings
of close acquaintances, says William E.
"Bill" Frank Jr., founder and president of
The Curtiss Group in Boca Raton, the
Florida Division of Placement Interna-
tional. Board positions tended to be "cer-
emonial," granted as a favor to a friend or
business associate and traded between
colleagues.
Board membership in the 1990s howev-
er, has become more of
a "job," says Frank.
The good 01' boy net-
work placed little pre-
mium on diversifica-
tion of membership,
leading to boards with-
out direction and exec-
utives who frequently
weren't accountable to
shareholders.
But as shareholders
take a greater role in
the direction of their companies, and as
pressures increase to hold board members
accountable for company and stock perfor-
mance, the methods of finding board mem-
bers have become more sophisticated.
Even as boards become more responsive
to shareholders and focused on company
performance, the increased responsibility
has dissuaded many candidates from serv-
ing because of the potential liability they
face.
At the same time, the criteria for identi-
fying board members has become more
stringent. Frank, whose consulting and
executive search company has conducted
Frank
numerous searches for directors of public
companies, says that corporate executives
should keep the following guidelines in
mind:
. It is widely perceived that the major
role of the board is to hire, fire and evaluate
the performance of the president and chief
executive officer. Consequently, it is impor-
tant that these executives not be directly
involved with the selection of a board mem-
ber, since it would be difficult for a board
member nominated by a CEO to fire or cen-
sure him or her.
. Boards must plan for inevitable man-
agement succession. Directors must take
succession planning seriously to insure a
smooth transition. They must have formal
evaluation and succession procession
plans..
. In an age of friendly and hostile
acquisitions, directors must keep up with
the ever-changing "takeover" law. They
must be ready to render a judgment at any
moment on a management proposal to
acquire, be acquired or fight a corporate
raider.
. Today's shareholders are becoming
increasingly vocal and active.
Consequently, directors must take investor
relations programs seriously. Directors
must be amenable and responsive to share-
holder needs, questions and complaints.
. Directors must never forget that they
are accountable to shareholders. They must
constantly evaluate their roles, responsibili-
ties and business practices. Today, many
boards have developed performance evalu-
ation criteria One of the key elements of
this evaluation is making sure the boards
are properly diversified.
~:T~ ~e.,~:;:,~ d'C :;.~.:;tlO~~ 8-~+~
~~~tlJ5.;~ sa.", ~~">"'n~S5.~> ~!
3~0 --=_-' m....:;, nVlo"" ::1",~ !!.
a ~o '8"""l><~ "''0-:;,(1)(1)'''''''' 0-
O a:;,>::r.., *~ ::r(l):c S" o. '" >< ~'O~ <)00
o~ _~~,.,~ nO (I)., ...._~<>>
., 0 0.., ""0 ........~ C '0 ~ "'~.." I"l""~ .,..,::r-~ ::1.-
~ ria ~:;:,.,:;:,:;:,..... "':'0.:5'" 5'c :;;", 0 ~::; ii%
C' :;:, ~ ~~ ri <'..."0 ~~ OQ "" .... 00.:" -r:r m
~?'"!'l~~:;:,,,,: (l)=..,(l);:; :;, :::'C(l)~ ..,,0 z
=-sg"::ro::ro",oo~""~~~ri'O:;:,~~.,~ z
(l) ::n~", ~ ~ a (l);:;> = '" ~ 0 ., ,:: ~ . . .... 0 ., ~ m
~. -a-= ::r'O ljl '" g ~o-"'''g~''' "" 0 ~~ "" ~::T'" ~"g en
!n' "'.::r 0 '0 0 ~ ::r,., C' .., 0 "" ::l 0" en
. ~.2 ~ _.~ :;, ::::. ~ :;,. ~ .... .... 0 = ~:;, .., 0 ~ :;:, VJ;:;1 -<
::tU""'_CI) ('D~=... (,#)~~nfJ) g.. """'- ~o"
;l....~.c::r:: ''0 ~ ..,~"'" S,,,,,, ~= m
~3~ri~~~~o~O:O':~a"QQg;~'2.g ~.VJO' II
- O.~ '0 O' 0 -~ ~" .., ~ ~ rh (") ~ 3 ~::l 0 v;.... m
c::: ri ~ ~ c:r-.~ ~ ~ 3 _.0 ~ ~ ~>>
ri 00 ':...."':;:, ~ :T-<' ~a o:;l.., 3 ~ _.o~.
'O~ "'0 ~~ ~ n ~~ "';:;>
o~n'2. ....c~:;:,:;:, ",-g=ig~:;:,o :;:'(l)~
....~ ... (l) 0.... :;:, ~ _ (l) 0 :"' r I ~ ::r _..., ..... = .
:;:, ~ S ~ (l) 0 ~ =. a (') ~.o ~ sa.'" ~ ~ r;- ~ ~ 0 C'
~ ~.c 03 s,,..,C'0 -< 0 g -'=c::: ~::r03..,,9 0 "" a.....cia ~!!.
O-OQ~'O....'l t':>:;, -, ""_.(';> _c'O"~~_:;,
_ -'::r:;:, _~o s.' (l)~::r- ~o "''0 ~ ., .,...., :;, -.00
t;;.~....",o~a """l~~g~~=(';>""::lC'(";ja::r15-~....
_. N~ g'O 8::r' ......OQ 3 a Y' >< :;, ~ ~ OQ (l) ~ 0 0
c' ~""(I) a"" (";j::ro::r :t(";j~.C'", ~o @ C'=.C.'O
:;:,....<:'l~"'ne.e- ~C' ~!:(r\)~"'~~.(l)c:::Vl.(";jO;:)cr
:;:,::r. :;:,(I)-~~"'~~.... .... v~~..... ::l ""
~-:;:, 'l''''''''~::rS.,.., o5.a::';;s'~<o~z,~:;,
~~,O. ,s;J ~"O ~0;>::T ....~ ri (";j Vl oon....,:;, 9 ::rz'"
= :;. c::: me 9: - r;- '" ... ~ ~ ~ '" ~ r:r '" (";j "" ~ 0 ;
r\)(';>na8-<! a~ ~",.,..,.~:;, ""O~r\)'
- ~ '" "0 N V;' '0 0 = '0 ~,:: 0 ..... ~ 0. "::l 0 "0 ~ ",' N :::
.~ _. - (';> _.::r .., '" ~ (l) ...;." .... n.... r:> 3 '0 '0 0
0=0'0~0-' 0.... 0 "'-...r:>....o"',oo..,,~(l).,
'"I~..,~ =ri ~"'~a'O ~::r~....~cO:"'::1r;1:;,::l~
l"r" ".., - -",,"::r a . :;, c::: 0'- .
5.' ...~gofi ~r:>or\) ....~03g_.@g~:;,~,og-8
OQ '" ~ .... ~ ., c::: ~:I. :;, ~ - ~~: '0
" ~ c::: ::r::1 ~ ~ a 0 ~ 3 3 ..., S' 0'> ~ ::r~ ~ Q 5'.
~a~C'r\)v;. ~r\):;, O~~Otl..:;,o -.....'"
.:;1 r\) ri ~ -6" "'. ~ '9 ~..... 0 ~ :r 5f ~ . 0. ri 15 po. If =
~ e.~:3 >=. :;tlfi::?:!1::;':;tl ::: (l) """l:::::l:s:': 3"" ~ ::l
o (l) r;(';> ~ ~ 7'0.:~.., ~ .,'o~ 1"'\0 a ::r::r""3 -.."t.: g _.~ .
~ '" ::l g "';::" _.-"':;' Q.~ ~'O ..., r:> "".," 0..'
-.-.- ,.. ~ ~C' --.r,; -'0.-,.,"" r,; 3 "" ~::l. (l) ~
\1 \, J ~... (t) (j .., ~ 0 r';I f"';l - ...., ..
3 S, c '"Ot;;'::;"::;~'" g-~c:Y' tIJ::l !:-< ~ ::rQ._.~.....;l ~;;-r,;
'" C' 2. 0" =. ~ ':;; .., ~ ., ~. 7''< !n' 0. g.... Vi'~',~.,.., ""'0' ,.. ::r:il -
. "" '" 0 ~ "" ~ ~ -< 0 .;::.. ~ (';> '" 'oJ '-" 0 -I":>" r,;
~...,"';:;>=O::l=. 03':;,0(1)-" _.E::~"'''Oct:Or:r::J'''
~ ~:3 III '"' (') ~ (';> ~ ....:3:;, ::l ~ ., ;:;> ~.:;, ;;1 ::l, (l) (l) ,.,
~_~lIloo~::r2""'0", '<~I":>:;,O'I":>....VJo.::r
,.,.. _.........., ~ '* -.,... - 3::s .., OIQ - -
::rg~ g ....::.:0.... g.2.tIJ~ 000 I)'" &,:->;; c 5.....
n_"!!lfotn::r::-:~~I""':l"'~(';> .,~:R_ :~:l =-
:3..,.._jD-~.,.,=",~ ~... r\) ;:;-_.~ t")-.n..
~oipa-:3"'""=>-!..,, :T~na::lr:> ::r~~a
~~"'IIl~a~"""l::r:;:,g~~~~ .,.,"'~~ no' ~o~~,
-'Lfot~ tll:l ~",(l).;::..::l'r- =.,.,'" - _.v~#'
-< .,., '" ....7'.,. n . = ~ '" r:r '" ~ '00 3 c =.~(l) :r
n <:'l t") ~.;::..:l ..... ~ ..... =.,.., N 0 - '" 00.... (';>: '"
~nO .,.,~"~~ ~~(")~j Oc ..,-~ ::r", -
9 a 3 ~~ g.~ @ -,S's'3.t!1o a.:&~ ~~ ~ S'~....
~ n '0 :3 OQ = t") - ~'< '" 0. I":> ~ .... n '" .. .... - :r
=::l~ nE\llC:::~_~:;:'",,(')'O 1":>00........_. -::r::ll":>
, ~ . VJ I ;;0.. I. I _ I ''"' I" en O. ." ~ 0.. Q 0 ('tl ~~
o oV;'~"O ~.
s.""o ~o:s. ~!::::.
'2.~ :;jQ.' a ~=
~::l(l)_. oa~
g~"'~~g ~
3. ~;;to"'~~"g~
r\) _. (';>...... =....
a ~'2.:;1 , _.~.~
::r(';> "'.ri a", -.
o.":~ ~ 0 ~ 3
0.<1> '" =t'!,nl S'
-'''0 -- ~;;r _.
:;.;:;l ~ ::r ~ if ~
~.'O '<.. ~ ~ '" S'
o~ riri@~<!"l
= &, . o..?' == :
. ~ -. .-.
::r"""l ~:3 ",'~
el g Jg 9" g 0
:s:':;;t::l3 ~S'~
-'.., t: 0 .....,.. OQ....
~...,(';>.,....._ 'oJ
3"""'1":>(';>...,(")~
_.::l6>....oll>O~
o-",::r><ri::l(".:
~"".:~-g ~:?Q.
;;:1: ---- n t"')-'
2. ~oV)-~-:;,
....., ~ w'" (I) ....
n""~'" -<;:;lo
~:",_Vl::rO",:;,
;:!.. 0 a (';> 00 (l)
~ ::;'OQ _. t") '0 C ~
::l .., _'0 3-""
(';>.., 0 -3 -.
>< ~ ~ 15''0 g g ;:;
~- ::s tI) _ ~
~o 05'~' ::;':..
~'O ... "" :;,
~ ~........, -on
. :lo~!. ~'c
~ ::; ~:T Jg '?-
i
I
!
a:
Cf)
~
~
2'3 0"2'0> a> 'TI::Z:0
-0'< -:E)(.... c:z
:a:....o:a:o>~~Z
3'a>:::=,<c: ;It''~~
a> ~c5~~-"::Z:
-. 0 < c: ...... m
::J :l-.3a>....~
:- 109. (/l~=
(/l
~
~
2
....
.....
rD
~
0-
~
tI3
~
~
,... s:
~
0
Z
~ 0
)>
-~~
~ z~
o~
~~
~
~ ~~
a m __
:DC;
I\J
9
...... ~
(0
(0
01
1.I.e Partners
Executive Search Worldwide
Australia
MAXIM EXECUTIVE SEARCH
Level 15, AMP Centre
50 Bridge Street
Sydney NSW 2000
Tel: 61 2 233 2622
Fax: 61 22214686
Contact:
Neville: Mills
Austria
DR. WEBER EXECUTIVE
SEARCH
Hohnegasse 1
A-U80 Wien
Tel: 43 14705250
Fax: 43147052409
Contact:
Dr. Hans-Joachim Weber
Canada
STONEHAM ASSOCIATES
Royal Bank Plaza, South Tower
200 Bay Street, Suite 2930
P.O. Box 105
Toronto, Ontario M5J 2]3
Tel: 1 4163620852
Fax: 1 4163629526
Contacts:
Herbert E.C. Stoneham
Herman ten Cate
Denmark
J. FRIIS BERG & PARTNERS
Amaliegade 6
DK 1256 Copenhagen K
Tel: 45 33 15 30 88
Fax: 45 33 32 6082
Contacts:
J ens T. Foged
Christen Dalum
Finland
J. FRIISBERG & PARTNERS
Gyldenintie 2 A
FIN 00200 Helsinki
Tel: 358 0621 5200
Fax: 3580621 5521
Contact:
Kurt Kaariainen
Offices in the Baltic Countries
and St. Petersburg
France
PROGRESS
57, avenue Franklin D. Ro(})sevelt
F- 7 5008 Paris
Tel: 33 14289 1201
Fax: 33 1 42 25 1855
Contacts:
Jean Losi
Jean-Marie Faraggi
Martine Bournerias
Germany
GOETZ VON WALDAU &
PARTNER
GronstettenstraBe 25
D-60322 Frankfurt am Main
Tel: 49 69 596 9503
Fax: 49 69 596 9903
Contact:
Goetz Hoffman von Waldau
IIC PARTNERS
Kaiser-Wilhelm-Ring 43 A
DA0545 Dusseldorf
Tel: 49 2119549820
Fax: 49 2 U 9 54 98 50
Contact:
Dr. Gerd B. Zimmermann
IIC PARTNERS
Ballindamm 38
D-20095 Hamburg
Tel: 49403232 290
Fax: 49 40 32 32 29 29
Contact:
Karsten D. Wick
Hong Kong
MASTERMIND SEARCH
ADVISORS LTD.
Room 4509
China Resources Building
26 Harbour Road
Wanchai - Hong Kong
Tel: 852 2827 2882
Fax: 852 2877 9651
Contact:
David K. Ho
Offices in Beijing, GuangzhlOu,
Shanghai, and Shenzhen
Indonesia
RICHARD GLYNN
CONSULTANTS
JI Taman Pluit Kencana Dallam
No. 24
Jakarta 14450
Tel: 62 216613617/8
Fax: 62 21 667 8347
Contact:
Thomas H. Teguharja
. I~!:2e!
Italy
J. FRIISBERG & PARTNERS
5, Piazza Velasca
120122 Milan
Tel: 39 2 86 36 65
Fax: 39 2 72 02 25 42
Contact:
Gianni Franceschini
J. FRIIS BERG & PARTNERS
121, Via Sistina
100187 Rome
Tel: 39 6 474 0400
Fax: 39 6478 18444
Contact:
Gemma Toccafondi
Mexico
FRANK P. HILL
EXECUTIVE SEARCH
Rio Guadalquivir 38- 701
Co!. Cuauhtemoc
06500 Mexico, D.E Mexico
Tel: 52 5 208 4902
Fax: 52 5 208 8369
Contacts:
Frank P. Hill
Andrea Garcia
Netherlands
HOLTROP RAVESLOOT
EN PARTNERS
Benelux Building
Van Heuven Goedhartlaan 121-
Postbus 2211
NL-1180 EE Amstelveen
Tel: 31206470201
Fax: 31 206450715
Contacts:
Wim Ravesloot
Cees van den Berg
Freek Muller
Norway
A/S ISCO GROUP
Oscars gate 23
P.O. Box 7193-Majorstua
N-0307 Oslo
Tel: 4722 56 7100
Fax: 47 22 56 71 90
Contacts:
Jens P. Heyerdahl
Knut Isachsen
artners
~ch Worldwide
.
Russia
TRIZA GROUP
GALLA-SUPERSTAFF
17 Kolokolnikov Drv., Suite 20
Moscow 103045, Russia
Tel: 7 095 925 6276
Fax: 7 095 928 6102
Contacts:
Georgy,. Pavlov
Dmitry Khlebnikov
Yelena Yegournova
Singapore
RICHARD GLYNN
CONSULTANTS
65 Chulia Street, #40-03
OCBC Centre
Singapore 049513
Tel: 65 538 3393
Fax: 65 532 7078
Contact:
Richard Glynn
Catherine Glynn
Leonard Tan
South Africa
SEARCH SOLUTIONS
P.O. Box 783359
Sandton 2146
1st Floor
Paddock View
36 Wierda Road West
Wierda Valley
Sandton
Tel: 27 7783 7160
Fax: 27 7 884 3866
Contact:
Penny Gerrard
Spain
DALMAR, S.L.
Paseo de la Habana 14-6
E-28036 Madrid
Tel: 34 1 562 44 46
Fax: 34 1 562 44 45
Contact:
Christopher Hartley
PROGRESS EXECUTIVE
SEARCH
Padilla, 32
E-28006 Madrid
Tel: 341 575 1000
Fax: 34 1 577 1628
Contact:
Pedro Moreno de los Rios
Sweden
J. FRIIS BERG & PARTNERS
Jakobsbergsgatan 8
SIll 44 Stockholm
Tel: 46 8 611 67 55
Fax: 46 8 678 12 25
Contact:
Per Witt
Switzerland
J. FRIIS BERG & PARTNERS
3, Chemin de Mornex
CH 1003 Lausanne
Tel: 41 213208844
Fax: 41 21 323 5403
Contact:
Jl'lrgen Friisberg
J. FRIISBERG CONSULTANTS AG.
Gustav Maurerstrasse 25
CH 8702 Zollikon-Zurich
Tel: 41 13922003
Fax: 411392 2002
Contact:
Urs Wiirtrich
Taiwan
INTELLIGENT MANPOWER
CO.
5C, #21, See. 1
Tun Hwa S. Road
Taipei
Taiwan 105
Tel: 886 2 578 2582
Fax: 886 2 578 7660
Contacts:
William K. Uu
S. L. Wu
Thailand
RICHARD GLYNN
CONSULTANTS
427/42 Diamond Tower
Silom Road Soi 7
Bangkok 10500
G.P.O. 209 Bangkok 10501
Tel: 66 2 2315131
Fax: 6622315131
Contacts:
Richard Glynn
Nampueng Phanayangkul
United Kingdom
WAGGETT & COMPANY
Four Clifford Street
London WIX lRB
Tel: 441714942551
Fax: 44 171 4390222
Contacts:
Michael Waggett
Dr. John Mellor
Fiona Hanan
USA
THE CURTISS GROUP
INTERNATIONAL
Northern Trust Plaza
301 Yamato Road, Suite 2112
Boca Raton, Florida 33431
Tel: 1 407 997 0011
Fax: 1 407 997 0087
Contacts:
William E. Frank, Jr.
Robert L. Beatty, Jr.
John A Farrell
Peter J .M. Goossens
Patrick A. Hidalgo
LARSEN, ZILLIACUS &
ASSOCIATES, INC.
601 West Fifth Street, Suite 710
Los Angeles, California 90071
Tel: 1213 243 0033
Fax: 1 213 243 0030
Contacts:
Richard E. Larsen
Patrick W. Zilliacus
SANDHURST ASSOCIATES
4851 LBJ Freeway, Suite 601
Dallas, Texas 75244
Tel: 1 214458 1212
Fax: 1 2147020710
Contacts:
James P. Demchak
Duane R. Goar
Harvey D. Letcher
J. Herbert Wise
SLAYTON INTERNATIONAL, INC.
181 West Madison Street
Suite 4510
Chicago, Illinois 60602
Tel: 1 3124560080
Fax: 13124560089
Contact:
Richard C. Slayton
W.T.W. ASSOCIATES, INC.
675 Third Avenue, Suite 2808
New York, New York 10017
Tel: 1 212972 6990
Fax: 1 2122970546
Contacts:
Warren T. Wasp, Jr.
David W. Morris
Thomas Schneider
Nancy W. Lombardi
(I)
1.I.e Partners
Executive Search Worldwide
PALM BEACH POST
MONDAY, FEBRUARY 5, ] 996
BUSINESS
DAY ONE
HOLD
ONTO
YOUR
HEADS!
Executive headhunter
William E. Frank Jr.
runs The Curtiss
Group in Boca Raton,
and when he comes
calling, your best
employees just might
go walking.
PAGE 7
THE PALM BEACH POST
COVER STORY
FEBHUARY 5, 1996
7
REEUNG IN THE BIG FISH
A Boca Raton executive
search firm relies on
gumption and guile to
seduce top-money bosses.
.
By DANIELLE HERUBIN
Palm Beach Post Staff Writer
Negotiations held behind pot-
ted ferns. A secret meeting in
a mountain cabin in Norway.
Hoarse telephone whispers. The final
act of seduction.
Sound like the newest James
Bond flick? Hardly, These are true
tales of how Boca Raton's The Cur-
tiss Group handles some of its big-
gest executive recruitment cases.
"It's never boring," said William
E. Frank Jr., president of The Curtiss
Group.
Demand growing
That's the sexy side of executive
searching - the exotic locales, the
midnight meetings, the spy-like act
of "turning" an enemy's chief execu-
tive into a client's new employee.
The not-so-pretty side. is that in
times like these - with thousands of
workers being laid off and career
managers sent home with the rest of
them - demand for the services of
companies such as Frank's is grow-
ing.
The executive search market in
the United States is about $2 billion,
up from about $100 million in 1970.
Worldwide (and Frank's company
does a lot of international work), the
market is approaching $4 billion.
But Frank only handles the top
echelon.
Headhunters abound
What most people consider exec-
utive search firms - commonly
called headhunters - can be found
on most any street corner. The Yel-
low Pages lists 17 executive search
consultants just in West Palm Beach.
They usually accept the job to find a
body on contingency, meaning they
don't get paid until they deliver. On
average, they find people who make
in the $30,000 to $75,000 salary
range.
The Curtiss Group is not one of
them.
Curtiss and a select few - in-
cluding Daniel A. Silverstein Asso-
ciates in Boca Raton - operate on a
retainer basis. That means they get
paid up front.
[t also means that they typically
handle executives with salaries rang-
ing from $75,000 to $1 million - the
average is around $150,O(Xl.
Many job-hunters send their re-
sumes to Frank. They might as well
not bother.
"Job ads get people out of work
or about to be out of work," Frank
said. "Lee Iacocca wasn't reading the
neV;',spaper when he went to Chrys-
ler.
William E. Frank Jr., president of The Curtiss Group, subscribes to the
theory that the hardest executives to acquire may well be the best.
Instead, Frank prefers to hunt his
own game under the theory that the
hardest executives to acquire may
well be the best.
A typical search might begin like
this: A client wants a chief financial
officer who has taken firms public.
Frank might begin by calling people
at the Securities and Exchange Com-
mission and law finns that specialize
in initial public offerings.
He looks for patterns.
"If Joe Blow's name comes up at
one outfit, and then another, and
then another, then obviously we're
looking at a superstar," Frank said.
"Then our job is to seduce that per-
son."
He examines the client's job cul-
ture - a laid-back company isn't
going to want an uptight boss. Then
the seduction begins.
Secrecy the key
The main obstacle is often the
person's secretary. Frank admits to
being less than candid with secretar.
ies. He'll say its "personal," or that
"yes, he knows why I'm calling," or
that he's checking on someone's con-
fidential reference.
The meetings have taken place in
cabins in the mountains of Norway,
Bolivia, and behind potted plants in
airport bars. When you're a chief
executive making nearly $1 million a
year, there's no such thing as too
much secrecy when being courted by
another finn.
Frank broke into the million-dol-
lar club in 1993 when he negotiated
Adam Aron's $1 million-a-year com.
pensation package. Aran, then senior
vice president of marketing for Unit-
ed Airlines became chid executive
oithe Cor~l Gables-based Kloster
Cruise Ltd. Frank's company also has
worked for FPL Group, Knight-Rid-
der, Palm Beach County, Sensorma-
tic Electronics Corp" Siemens Corp.
and Motorola.
It's getting a lot easier to recruit
top candidates to Florida, Frank said.
It used to be considered a backwater,
somewhere people went when they
retired or their careers were shot.
Now it's hot.
Companies are looking for differ-
ent things now, too. Women and
minorities are frequently requested.
"It used to be that 40 was an age
when you ~ere considered old,"
Frank said. "Companies want more
maturity these days."
THE CURTISS
GROUP
Headquarters: Boca Raton
Founded: 1980
Business: Executive searches
for managers making more than
$75,000: the company works
only on an upfront retainer basis;
also does outplacement and ca-
reer consulting.
Employees: 21, plus part-time
employees.
Offices: Boca Raton; Miami;
Sao Paulo, Brazil; Tampa; Fort
Lauderdale; Jacksonville; OMan-
do. A new office is being opened
in New YorK City.
Pay up, the state tells
IFF policyholders.
IN THE NEWS
4
Hiring the right lawyer
for you.
BUSINESS PEOPLE
11
Deciphering your
401(k) plan.
PERSONAL FINANCE
18
SUN-SENTINEL, MONDAY, JULY 3, 1995
WEEKLY
BUSINESS
IN THB HUNT
As the state's business reputation improves, South Florida's
executive search firms gain respect in an industry
dominated by New York and Chicago giants.
Please see cover story, Page 6.
Cover
Story
Soul searching: 'Headhunting'
firms match bodies with jobs
South Florida's executive recruiting firms are benefiting
from the region's emergence as a respected business center
By JAY WEAVER
Business Writer
TWo, years ':a.go, Kloster Cruise
Ltd., 'the venerable Norwegian
line w.ith U.S. h.eadquarters in
Coral Gables, was on a Titanic-
like C'Gurse.
Looking for a savior, Kloster's
board {)f directors turned to exec-
utive recruiter Bill Frank of Boca
Raton to find' a corporate captain
to turm it around.
"Thoey told me, 'We need some-
one to save the company,' " re-
calls F'rank, 51, president 01 The
Curti... Group. "I lelt like James
Bond."
His three months of detective-
like work led him and Kloster
Cruise to Adam Aron, senior vice
president of marketing for Unit-
ed Airlines. In July 1993, Frank
negotiated Aron's $1 million-a-
year compensation package, in-
cludiDg performance bonuses, in
a mo~tain-top cabin in Norway.
His search firm received a re-
tainer fee Irom Kloster equal to
30 percent of Aron's annual com-
pensation package.
The Kloster assignment was
The Curtiss Group's break-
through into the ranks 01 the so-
called "$1 million Club" 01 head-
hunters. The firm's searches,
rellecting the South Florida mar-
ket, are normally for executive
positions in the $125,000 to
$200,DOO range.
The Curtiss Group, with annual
revenues approaching $2 million,
may be recognized as a regional
boutique dwarled by such behe-
moth New York and Chicago ex-
ecutive search firms as Kornl
Ferry International, Heidrick &
Struggles and Spencer Stuart. But
~ the group, along with a handlul 01
~ other local executive recruiters,
.; has helped bring respectability to
~ South Florida's growirig llhead.
~ hunting" industry during the past
>. decade.
~ Frank's lirm, lounded in 1980,
5 also bas had the henelit 01 being
:> in the right place at the right time
~- as a nucleus of major companies
~ in South Florida - Irom W.R.
.~ Grace &- Co. of Boca Raton to
III Sensormatic Electronics of Deer-
~ lield Beach to Ryder System in
~ Miami - has helped diversify the
~ region's once tourism-dominated
economy.
CD Moreover, South Florida has
Adam Aron was senior vice president of marketing for United
Airlines before an executive recruiter tracked him down to be-
come the prime candidate to bailout a sinking Kloster Cruise.
gradually shed its dubious repu- three basic traits of a headhunter:
tation as a cultural and economic sleuth, salesman and diplomat.
backwater - despite its linger- "Will he know what this-is in re-
ing problem as a crime capital. gard to?" Ueberr.oth's secretary
"There's a little more respect asked Frank. "Yes, he will," lied
for business in Florida" said Frank, without identifying him-
John Ropes, an executive ~ecruit- self as an executive recruiter.
er and consultant who opened his As soon as Ueberroth got on the
Fort Lauderdale ollice 20 years line, Frank apologized lor seem-
ago. "That's why it has started to ing duplicitous, Then he politely
attract a lew 01 the major [execu- asked Ueberroth a lavor: Could
tive search] players." you recommend some of the best
. Uncovering the best and the and brightest executives in the
brightest. travel, hotel, cruise and airline
When Frank got the Kloster as- industries. Ueberroth happily
signment, his first move was a obliged
cold call to Peter Ueberroth the Alter that lirst call, Frank re-
former commissioner of Major viewed hundreds of lips, referrals
League Baseball who had made and resumes and flew off for doz.
his fortune years ago in the travel ens of interviews in airports, res-
industry.
The exchange hrought out the CONTINUED ON NEXT PAGE
Executive search firms do their work on a retainer or con-
lingency basis. Major firms, such as Korn/Ferry Internation-
al of New York and Heidrick & Struggles of Chicago,
charge retainer fees. So do a handful of South Florida firms,
including The Curtiss Group of Boca Raton. Here are the
differences:
RETAINER
. Fee paid by employer during the search regardless of results - one-
third ol.a posilion's annual compensation.
. Salaries range from $50,000 and up.
. Out-of-pocket expenses paid by client to search firrr.
. Exclusive contract assignment with client.
. Search firm not in business to get you a job
. Provides comprehensive report on candidate: resume, references and
interview
. Presents three to five candidates on average to emp,oyer.
. Confidenliality generally assumed.
. Firm handles final negotiations and provides one-yeac guarantee over
fee payment.
CONTINGENCY
. Negotiated fee contingent on placement of. employ.ee in company.
. Salaries range from $20,000 to $100,000. But contingency firms han-
dle placements with higher salaries.
. Probably not exclusive contract assignment with client.
. No out-of-pocket expenses paid by client to search 1irm.
. Search firm wants to gel you hired.
. Firm sends numerous candidates
. Often forwards resume and brief references only.
. Confidentiality could be at risk.
. Potential conflicts between firms, or firms and clients.
Source: Executive Recruiter News
CONTINUED FROM PRECEDING PAGE
taurants and hotels across the
country. He also carefully studied
Kloster's corporate culture.
Although Aron was not on Ue-
berroth's short list, Frank came
across his name through a refer-
ral. He instantly recognized that
Aron's background - along with
his Harvard MBA - fit Kloster's
dire need for a chief executive
with marketing and financial
savvy.
Frank courted Aron on the
phone, in hotel lobbies I over din-
ners, on visits to Miami and on a
weekend trip to Norway to meet
with Kloster's board of directors.
"The whole experience was
pretty clandestine," recalled
Aron, 40, who has been credited
with cost-cutting and marketing
strategies that I)ave saved
Kloster from bankruptcy. Kloster
is the parent company of Norwe-
gian Cruise Line and Royal
Cruise Line.
The Curtiss Group also found
Kloster a chief financial officer
and two members for its board of
directors.
Because few people followed
the machinations of Kloster's in-
ternal power shifts, it was fairly
easy for The Curtiss Group to
keep the searches under wraps.
But sometimes there can be a
search, especially one involving a
CEO for a Fortune 500 company,
that attracts the spotlight of Wall
Street and the media.
Consider the corporate soap
opera in the executive chambers
at W.R. Grace, the $5 billion
chemicals and health care giant.
This spring W.R. Grace's presi-
dent and CEO, J.P. Bolduc, who
was widely credited with improv-
ing the company's bottom line,
resigned for no apparent reason.
It was soon revealed that he quit
after a falling out with the com-
pany's autocratic chairman, J.
Peter Grace, Dv~r millions Df dol-
lars in perks that Grace had re-
ceived. Then the company un.
veiled sexual har'assment
allegatiDns against Bolduc, which
he denied. Grace's bDard of direc-
tors, embarrassed on Wall Street
and challenged by investors,
turned to a major New York ex-
ecutive search firm to send a sig-
nal that it was going to find top
talent to replace Bolduc.
Spencer Stuart, the No. 3-
ranked search firm in the world
delivered Albert Costello forme;
CEO at American Cyana~id, who
was availahle because he had lost
his job following a hostile take-
over. The search firm was able to
control leaks of Costello's re-
placement of Bolduc, until it was
announced by Grace., a critical
strategy that enabled the compa-
ny to appear in control of its
future.
. Attracting top execs to South
Florida_
Aron's move to Kloster and
Costello's move to W.R. Grace
=~
Executive searchers spanning the globe
By JAY WEAVER
BusinessWr;ler
If they expect to survive, major-league
exec uti ve recruiters better have their pass-
ports up to date.
"Everything is going glohal," says Peter
Goossens, a partner with The Curtiss Group
of Boca Ra ton.
The Belgium native, who holds a Harvard
MBA degree and speaks five languages,
joined the group- in 1993 to coordinate its
international division.
The group, though small compared with
New York search giants such as Korn/Fer-
ry International, has enl<;lrged its glg,gal
reach through membership in IIC. It is a
partnership of independent search consul.
tants with offices from Mexico to Germany
to Australia.
lIC's 20 offices exchange information on
searches for executive positions worldwide.
The partnership provides an "economy of
scale" that makes it possihle for The Curtiss
Group and other members to do searches in
foreign markets dominated by Korn/Ferry.
For South Florida executive recruiters,
the search scene revolves around Miami
and Latin America. Many U.S., Mexican and
South American corporations are opening
offices in Miami or abroad - and they need
business executives to run them.
Korn/Ferry, the largerst search firm in
the world, opened a Miami office this spring
. Address: 301 Yamato Road, Boca Raton
. President: Bill Frank
. Business: Executive search consulting firm
. Number of employees: Six part ners and five
support staff.
. History: Frank, a former vice president 01 hu-
man resources for a division of ITT in South
Florida, founded his executive search firm in Mi-
ami in 1981 when the "headhunting" industry
was in its infancy locally. He moved his firm to
Boca Raton in 1989. It has additional offices in
Tampa and SaD Paolo, Brazil, with plans to
open anolher office in'New York in Ihe fall. The
firm also has affiliations with 20 oHie8s in South
America and Europe through its membership in
lie, a partnership qf internali~nal eonsultan~s:
. Revenue: Estimaled $1.5 million to $2- million
billings this year, compared with $1.5 million in
1994 and $1 millton in 1993
to coordinate its network of Latin American
offices.
"We're the only firm to have an office in
every major Latin American market," said
Tom Connelly, a Korn/Ferry partner. "Mi-
ami completes that circle for us."
Doing searches for multinational corpo-
rations calls for different executive pro-
files. South Florida search recruiters say
executive candidates have to know more
than a foreign language.
"They have to understand a foreign cui.
ture's nuances and try to be flexible," said
Patrick Hidalgo, a partner with The Curtiss
Group who has worked for several U.S. cor-
porations in Latin America and Europe.
Recently, the group recruited a human
resources executive who was working for
Chiquita Banana in Honduras -for - a major
U.S. bank operating in Latin America.
Even the federal government has called
the group. A few years ago, the State De-
partment hired it to find a banker to work
with the Bolivian government to improve
that country's banking system and stock
exchange.
show how some executives from "The largest That goal may take awhile to CamEra, a video surveillance
the Northeast and Midwest are fulfill. Just consider recent pow. business in S1. Petersburg; a sen-
more inclined to reloca te to South firms haven't er plays hy boards of directors at ior engineering officer; and an as-
Florida as it - broadens its eco- totally discovered W.R. Grace and Sensormatic. sistant to Smith in human
nomic base with expanding U.S. Florida yet, but a Sensormatic, the security.elec- resources.
and Latin American tronies company, was forced to Smith said The Curtiss Group
corporations. few have set up look this spring for another chief offers a perspective of South
Also, top American executives outposts there. If operating officer when Michael Florida that outside headhunters
Pardue announced his retirement
no longer feel as loyal to their that's where the at the age of 45. He was being lack. "They know Florida for its
employers in today's unpredict- action is, that's groomed' to replace Ronald As- tremendous pluses, but they know
able corporate culture of down- its warts as well. They're better
sizing, restructuring and where you'll see saf, the 59-year-old chairman .and able to sell Florida as a place."
CEO of Sensormatic. The compa-
mergers. more of them ny turned to Heidrick & Struggles That wasn't so easy in the
1970s and early '80s when Flori-
One clear sign of the executive going next." of Chicago, the No. 2,ranked da's economy mostly revolved
search industry's response to ~ James Kennedy, search firm worldwide, which around tourism and real estate.
these developments is Korn/ had found Louis Gerstner for
Ferry International's opening of Executive Recruiter IBM. Back in the 19705, executive
a Miami office. It was established News search firms operating on a re-
this spring to coordinate the New Whoever is selected to replace tainer basis barely existed. A few
York firm's searches here and in Pardue is likely to become Sen- executive recruiters working on a
Latin America. Korn/Ferry, the sormatic's next.CEO, so the com- contingency basis were more
largest search firm in the world, edge the national hierarchy of ex- pany's board of directors wanted common. Contingency means a
had revenue of about $200 million ecutive search but say South to send a clear message about the recruiter only gets paid.if a
last year. Florida's -headhunting market is caliber of the search. search proves successful.
about to enter the upper echelon. The Curtiss Group sees large ::;:
"The largest firms haven't to- "They're looking for someone Florid~ compani~s grDwing mDre 0
tally discovered Florida yet, but One recruiter who. makes that with a $1 blllion company back- accustomed' to. the retainer sys- ~
claim is Tom Connelly, who -<
a few have set up outposts there," ground, because that's where tern of payment, which requires OJ
said James Kennedy, publisher of opened Korn/Ferry's office here we're rapidly heading," said Lar- up-front fees equal to one-third of ii
Executiye Recruiter News, b;:tsed after working for five years in ex. ry Smith, director of human re- a new employee's annu'al S'
in New Hampshire. "If that's ecutive search for A.T. Kearney, sources at Sensormatic. "They compensation. m
where the action is, that's where the Chicago-based management [tbe directors] wanted a search That change in attitude, in !"
<:
you'll see more of them going consulting firm with an office in firm that had high visibility." turn, has opened more doors and g
next." Miami. Before that stint, Connel- Although The Curtiss Group generated more revenue for The c.
But Kennedy predicted the doz- ly had been an executive recruit- Curtiss Group and a handful of ~
er in Korn/Ferry's Washington, was not considered for the search ~
en Fortu-ne 500 corporations to replace Pardue, Sensormatic other headhunters. <-
based in Florida will continue to D.C., office. But Frank, the firm's presi- c
hired the Boca Raton firm for '"
look to New York and Chicago "Historically, the big searches seyeral senior management dent, is still striving to land one of -'"
search firms to fill top executive have gone to New York," Connel- positions. those CEO searches for a Fortune ~
positions because those firms ly said. "One of our goals is to 500 company. "It's no longer nec. "'
'"
project power. help this market mature to that Among them were: a president essary to. look to New York when
Regional recruiters acknowl- leve!." for Sensormatic's recent venture, we're here." ....
Ebe Bel'8lil
MONDAY, JULY 10,1995
Dancing with headhunters
he exec-utive with years of experi~
cnee in Latin America lands a
dream job. A promotion. more
money, new opportunities.
Some people have all the luck.
Better than luck, they've
learned to dance. with recruiters.
Whether you call them execu-
ti ve search consultants or head-
hunters, these folks may hold the
keys to the job you want - but
will never see advertised.
Yet for, many of us, headhunt-
ers seem to be mythic creatures.
That's because good recruiters care
about confidentiality. Client firms
often insist on secrecy. Companies pay
recruiters fat fees to llnd the right per-
son for a job- typi-
cally about one-
third the annual sal-
ary. And if someone
already. holds the
job, the company
doesn't want to
advertise that it's
looking for a
replacement.
Often, recruiters
talk to people who
are already
employed. "!t's our
job to set the hook and see if we can't
.get them at least to talk to us," says Bill
Frank, president of Curtiss Group in
iBoca Raton.
Wben he got his first call from a
-,headhunter, the executive with the
Latin American experience had a good
job - and no clue where the recruiter
got his name. Eventually, he learned a
'~oUeague from Mexico had recom-
mended him. By then, he was on the
circuit.
'The phone really started to ring in
the last 18 months," he says. "Once you
talk to one headhunter, .especially one
from the big national firms, you'll get
calls from the Atlanta office. the Los
Angeles office, the Chicago of1ice."
Y es.)'es, You love your work. But
why turn down a job you haven't been
offered? Those headhunters could come
in handy when your firm reenginecrs
~'Ol1 out of a job.
f...;.....l,......"......'....'....,........,l.;..........'....'........ ;t............' .'
.r..
f,.'
~.... "
f;,~
SUSANA
BARCIELA
Knowing how the industry plays can
dramatically improve your odds. One
valuable source is Rites or Passage at
$/00.000+, by John Lucht ($29.95,
The Viceroy Press).
Know the basic types of headhunt-
ers. "Retained" recruiters are paid up
front, whether or not their candidate
ends up in the position. "Contingency"
recruiters are paid only if one of their
candidates is hired.
Either type can do good work. "You
have to find the agency that reflects
your personal taste," says Henrietta
Goodman. president of Henrietta's Per-
KNOW YOUR HEADHUNTERS
Many professionals. even those who get
calls from recruiters. don't know the much
about these modern-day headhunters.
Different recruiting and placement services
work for different situations.
. Contingency search firms. Often.
they work with lower-level protessionals,
supervisors and middle managers. They
may submit numerous candidates for an
opening, but get paid only if one of the
candidates is hired. More than one search
firm could be looking to fill the same
position.
. Retained search firms. They place
hard-to-find specialists and executives at
the highest salary levels, typically $75,000
and up. These firms are paid upfront.
about one third of the annual compensa-
tion for the specific position, regardless of
results.
KornlFerry International and A.T
Kearney Executive Search are two
national retained-search firms with offices
in Miami. Other big players are Hedrick &
Struggles and Spencer Stuart.
. Outplacement firms. Usually.
they're hired by a company that.s
eliminating jobs. They aren't really
recruiters. They help "outplaced"
employees find new careers or jobs.
(In one case, however. employees cut
from a pharmaceutical company
complained that the outplacement firm
was steering them away from jobs at the
company's competitors.)
sonnel & Executive Search. a contin-
gency firm in Miami.
Keep in mind that the recruiter's
objectives ,won't always mesh with
yours. Some guidelines:
. Your job level and salary matter.
CEOs don't gct their jobs through
employment agencies. Companies hire
retained firms only to fill high-level
managerial positions. "Most retained
firms start at salary levels of $75,000
and up," Frank says, . .
People in entry-level pOSItIOns or
middle management will likely interest
contingency recruiters. Henrietta's, for
example, himdles jobs that pay $20,000
to $140,000.
. How do you get into a recruiter's
Rolodex'! Ideally, they call you. It
means someone else has already
vouched for you.
But you can approach them. Contin-
gency firms welcome ca!ldidates,
though it will be tougher to mterest a
retained recruiter.
. HOll'ever you make contact, cheek
out the recruiters. If one calls oulof the
blue ask for a name and number, then
call back. "Make s~re it's not your own
personnel department," Goodman
sa)'s. Ask if they have a specific job, or
are just prospecting.
If you've never heard ofthi-: firm, ;1sk
for references. You can look them up in
The Direetory ofExecuti.'e Recruiters.
For a retained recruiter, YOll can also
call the Association of Executive Search
Consultants. (212) 949-9556.
. Think about cnnfidentiality. If
you're employed, you don't want any-
one to know you're job hunting. Make
sure a recruiter won't send your resume
to companies that may know vou, or for
whom you don't want to work. Ethical
recruiters will agree to get your OK
first.
"That is where it gets dangerous,
when people get your name and shop it
around," says Sheila A vrin McLean,
the association's president.
. Recruiters _aren't )'our only option.
Identifv companies and jobs you might
like. Keep up with trade news. Personal
contacts work best. "Getting a job is a
job unto itself," Frank says. "It's the
toughest job there is,"
~
~
~
~
~
.~
~
~
~
~
.~
~
~
~
~
~
..;:
~
c
~ ",.
~ ~j~
o U.....
..1..:-;;: i:' = 0
~ tlO <u 'B
~ ij-g<u
~ =<u~
~o .: ~'O
"3:g~
'" 0 ~
~ ~.ct:::
~
.~
~
~
~
~
~
~
~
~ '0......... ~- , (.)"d =' tlO' '>,"~.c U'O 0 U'O 1_ U "'.&J.
(.) = I!!.~ U ~ = tC =.... =.'" .'" - ~ ~ .~ B '" = - '0 c: ~ <u -5.... 0
B <u ..... .c ~ C),g.... <U '':: e ::: = U '0 U 0 = <U '" <V'::: '0 .g U .....
'" (.) 0 (.) IE - ~ ~ 0 = 0 So! ~ ~ c:: !l i>-::l e =........ 0 > U
~ ~.9 cf ~ -g ~ ~.g Cii <5 'fl .g,.5~- ~ g..5 l! ~~.5 g:6'~'8 ~
R U 'Ou <U <U <U U <U '" ... gjl <U '" tlO =0 _ - 'l:; <U S .... Q, (.) .5.... C) 1:
..... .... 8. .... U 'O.&J = ... .... e::l = '::l <U '" '" ~ tlO >< 0
; 1~I~i]l]fji ~~]1~11]1!~.i~til
<U '" '0 ....!.:; U "'.c 0 a..... ~ <U u.&J........ - 8 c 0 .:.c . c ~ = <U
Q,e -= "3 ..E..... ~ s '" '" e E: 0 . f$ e -5 '0 3 :I: S,l = 5l.g..:: <Ue .5 ..... U tlO
CO ~ (.)>'8 B C) "'....=~~o-<Ue .co~=
8..1ol u ~ ~:c 8 g,g a <U dl ~ ~ ~ .C) ..E '.cg ~ U Y <U''::: C).", >.~ B.> .
. '" .. S'l (.) - = t-<..:: dl,Q !!! Q, S ~ U =.~ 0 Q,....&J ~ U <U C)
u \:: &:l ~ ::s ~ go. '" ,Q .~.~ l: ~ '" . <U U ~ <u.&J U .... tlO 8 >..... ... e ~ ~
-5 <U ~'s = U '" (.) >. = g '0 i>- '" &:l Q, C.&J Q, = .... ~ ~ ~ (.) = = U <U U .
e ~ ;;.. <U 8!S ~ ~ ij 8 C"~. ;I'~'C g'E >. -g tC ;g <U., . 'l:; a. g -5 ~ $:;
e s.s eQ, c 0 s!5u eQ,.... 0 e Cii <u:a (.) (.) e<U <U 'l:; e -g ij ~..... e....:5 -5 ~ -fi
..... l:l. C)'~ <U '" '" Q, >...... <U '" - <U .\:: 0 e... '" ~
>. e 0 e U e 0 .c Cii .... Cii E ~ c 0 u.:!l lU Cii Q, Q,.... (.) e ~ >"\:: ~
~~~~~~~~~~'O~s8~e~5~~~]~g~~8]~~~
-; .!i. ~ Q. ~ ~ ~ ~ s g ~ ij ~. U ~ ~.9o ~:6 gj ~ (.) ~ .... ~ ~ ~.5 <U
= Cii .\:: e >< .c 0 tC .&J .c > = ~ ~ = O.c c c ~ U ~ C Sl.&J .c :; ~ s
.... '"" Q, U 'U (.) (.) U <U '" .u <u.El .El 0 V,) '" ........ _ .&J .... .... '5 <U (.)... ~ "'"
1"0:=4.) ..QtU....Ocl.'i=......IIC/'J1 IC~.~~"Ol1.)I~I~I~I,tlJt).l.
= =.... tlO tlO '" .9 .... ","'" ii o'S 5.....2P . tlO..... g ::l U U c -5 ~ -5:g u ::l O'Q.. ~ ~ <U
8 <U ~ ij s [; = C <U . Q, U ::l Q,''::: '" ~] '.... ~ = ~ 8 (.) ::l"8 E u ><'S .... ~
.... '" ~ .c -5 ~ ~ ~ ~ ~ ~ ~ a ~ ~ s ~ (.) g : ~ <U ~ ~ .9 <u.~..8 e..E .~ ~ go e .!.
~ .~ -5 (.) -.&J"" = > ~ Q,., <U ~ 1="" .... c >. ~ '" .c <U _ .. '"
... ::= .... ~ ... < .... ~ 8..... u '" C Q, Q, (,) \:: ~ '" = .s ::l'': ~ C <U 5 '" .... ~ ~ <U ~
O:E ::l U ~ . ~ e "a) C ~ 0 fo e 0 0 ; tlO.... Q, <U -5 0 u.....~ 0 ~ ::l ~ 5l ~ !l
.""00 ~ -5 e ~.O' . ~ s .5 .g 1:& g ::l 0 ;: 't: ~.= E S ~ -5 eE u Q..e ..:s "'" '" Q,.c Cii g.5
.c = ::l..... >. '" >. <U tC Q, C" e (.): 8..... \:: ::l... '" = '" 0 U <U "':E u '" -
.S 8.~ ~~u ~.a!l ~ ~~.5'~.s ~ e =!.~ etj.c.g.8 6:~ ~ ~]E-:-5;5 ~~ ~
.~ ~.~ ; ~ ~ ~ .~ :t ~ ~ ~ ~ ~ .~ i j i ~ ~ .g ~.~ : ; j i ;] ~ .~ ~ !~ ~ ~
'> U (.) ::l 0 Ie IE u = '" '" >. e 0 ~ <U :Q, .! >..c '0 Q, B >. t:l t-< ~ Cii tlO '" 0 (.) 5. If
e tC .E! 0 U !.... e <U Cii.......- '" = , = (.) Q ~ e '" ~ a.l tlO = U 8 ... U =
Q,'13 '" ~ ~ !II! ~ 8 ~ '" i>- ~ -So'~ ~ '; ~ ~..!S e e .E 8 U ~ -5 ,5 ~ 0.9 .~ ~ ~ =.9 cE
8. '0 .... g 11::...... ",.> ~ '" C <U :e ..IC 0 =,;;i!; Q, <U -5 '" III -5 e ~.,:: Q,.c 0 ~ '"
] '" = ~ (.) i":' i>- .....::: .... Cii .... Q, - g =., Q, . = ':l 0 . ~ '0 ~ '" (.) >
:= _ '" If: u ;; ;I .9 B ~ '" .9 '" e 'S ;: .9 o. ,<U ~.: fi COIl..... ~ ~ '" 'i (.) <U ~ B '':: -5
S '" >. U -5 'il Cii (.) U (.) '" 19 U 0 .&J..... = .&J ~ .... ;s - >.....= U -5 'B u .9.c. ~ ::l....
~-5~.9tlO~~~~ls.,o-5~sooec~~(.)~~~~i~.E~~~5l~ ~~
o = = <U >. .....::.... "'" U '" ~ >. _ ~ .c t: ::l tlO ~ - 0 = U U
i:'u. -5 .... 'c · a ij ~ > :.0 lS.:iS '" ~ e ~. tlO ij = lIl.c ~ ~ tlO = ~ .... = "'..:::.g c..E!
~ g [; ~.g ~ e ~ ~ J: 'i ~ 0: .~ ~ 8 'S .5 e ~.~ ~ 5. ~ ~ 'Ig ~ . = ij ..:s 8' e .9 ~
.s 'r;;' ~ ~ ~ .9 ~ ~ i' ~ >< ~~.s 8 ~ ~ ~ .5 .9 ~ 'B .;
OU> ",g =~O~=~.&J~-5>.=u"'=
~ Q,lf:0=~ "'8'''''UU~::l'O -o-",<u
... Q, 0 ~u .... t:! .9 5 c (.) ~ >. '" 0 "':e .....\:: ~ .:. .... e
I!!,., .::: tlO VI is ~ < = I:..E 0 U U
~ ,Q.9 ~=.~~~=~-t: Ciio", -5 ~~~
!3 'O[ '" '" e ~ . '0 ] U ~ -5 ":"13 '0 ~ ~ [; '" ..9 ~ =
-; x. '"'" .... tlO 0 "'.= tlO <U ~ ~ .....C ij U c:: - ~ '" .;
~ ~ dl ..E .s ~:g'~'~;;;; e ~..E ..8 ~] ~ -: ~:a .9 .~!l
~~ ~&'" =::l",~o~",!~ "'o",,,,.,=.~<u
..s .... = .....0 '" 0.... - '" U l;:; ... 't "'.... -5 U 0 '0 '0
~ ..!. .9 S tlO = U..c "" '0 C) 0 Q, (.) U (.) <U > U =.... U Q.. U '" '" :e
oS S tlO.s..;'~ -5 .2P ~ ij ~:12l ~ g >..~ ~ S ~ .~ j OS ~ 11'\:: ~ ~ .; 8. 5 ij
~ ;....._= ~ ~ ..8 B.c ~ U III ~ ~ (.) oS Q, "'" S,l ~ '" &:l ...,::l ~.9 '" c:: '" e (.)
<=l 0::S >. <U <U 112'~ 6. = ~ ~ S,l c ~ ~ >< ::l C 0 '0 ~.~ U '" e ~
.... .... ~ = '" ... <U ~ "'.... U - .... _ ~ >.... '" 8 0 ~
.2u ~ e < U '" ~ oJ is. ~ = -5 S,l U ~ >. = .... Q, '$ = u.g e ; ~ '" (.)
= g iU.5 ~"~ ~ ~ a'':: 0 '0 .... '5 '0 g ~ = a. --: ~ i:'.S ~ -g ..... Q, Q,e ~ ~.~ ~
<U _.&J .... - U; Q = ~ '" = U ~........ U e '" e.... dl = - - 0
Q, '" .... .'::: R 0 > ..^!2P.llC P .... '" "d ~ ~ ::l > Cii ~ _'- = 0 Cii dl en....
e .9 CI:I ... ~ - CJ C1.) ......... = " as ......... c 0 ~.-.. CI:I.... rI) ~ o.~ ~ -- ....
o E ~ '" ~ <U - ~.~ Fi ~ ~ vi 8. ~ ~ B 19 go.", Q Q, ~ ~ ~ >. E !3!5:12l
~u~.... >.;: ~'i ><~~. g = u~,g e go::l 8.-g~. 8 =]:::3; g gJfJ g.
.9 .c ~ a..=., -5 ~ ~ ~ .e ..::: 8 ~ - .5 .9 8. ~ ~ '" >. '> ~ (.) .~ ~ =' l;:; .2, ~
'" . Q, '" ..... .c..... '" .... >. (.) I 0 .... U . >. = S,l "'.... Q, U , . tlO.... ~ ' >.-
.- ~ .9 >. 0 ~ .u ~ ~ U tC e - 5..E Cii 8 = '" '5 ..s = Cii :E .!::l :s! t'S =..E a ~ "C ::;::
U .~ ~ c :fl ~ Q, -5 ....& 0 g. ~ ~ ~ ~ (.)..... .c ue'13 ~ Cii .~ 't;'~ tlO ;J > 0 ~
... - >. U e ... (.) <=l c.... - 0.... : ,c u '0. Q, =::lu .
o e a. -- :s! !i ~.... '" '" '" U fIt.9 >. -g ~..c: I '" ~ ~ '0 ~ .5 ~ '13:.i2 C" '0 8. e
S ~ ,., ~ ~ ~ ~ Cii ~ -5 '" vi -5 fIt.~ a. B ~ ~ ~ l! tC ~ ~ Q (.)~'E o.~,g ~ e
" <=l .. -.... '0 ......::.... = ~.... I"" dl '" U Sl u '" ~ ... 0 -5 C C tlO
~ U 0 Q,:;.... ~ ....0 .... B <U 0 '" '" ~ ~ > -5 c: > '0 '" '" - '" <U 0
~ ] i l-g ~ [~ 8.:; >- ~ C) ] ~ ~ 'l:; !5'~ ~ .~ Q3 ~ ij.~ ~ ~ ~] ~ ~ = 6-
C >< '" u ~ <U <U iuS !l = ~ -' ~ '" > ~ - a. ~ ~ Q,..::: e ~ .9 5
:g '3 ~ ~ ~ ~ ~ ] ~ ~ 0 ~ 5l ~.5 ~ ~ ~ ~ ~ ~ .; ~ -: 'g l ~ ~ ~ ~.~ i 8. .~ .~
o ::l - ::l <U . (.) e 8 '8 >.s.&J .... .... ~ U g >< U e .9 ~ .:: (.) ..... "3 <U tlO '0 c:
~'l:;e,~1eQ,::li""'~"''''~ijj~!-g~~t,., ~~~.~1~~1es~~8.
'" ~ Q,~ .9 8 ~ 1.c .!.= (.) ...r'S's ::l., S,l -:,Q .... - '0 ~ ..c: ';l !;J u"3 ~ e e
.>']'.i:l go~~~lE e ~.&J ~.3.B ~.= i~~ ~1~~ g~ SfoS ~ u-5 e U ~ 8
]&B. ~ "'o~ i5.Oc1lQ, "'~ esi5:gOll Q,'" .....~.c-5"8!l-5u
z ~ ~ ~ j j ~.I ~ il'~ i'~ ~Su ~ ~ j ~ ~ i 'r~ ii ~ 'll~ $ ~ ~ i i .r~l
~ - := S u '2 1:: ~ J:' a ~::l ~ ~ > U (.) (.) F (.) ~ - - - .... e - 0.... =
,........ .g ~ ~ tEl ~ :;.;; ~ 8 8. as e e B '0 ~ S ~'8. '.6 ~ :a .s ~ ~ tlO.5 ~ 3 8
~
~rfJ
-rfJ
[
9
LL
Upper-level executives expect top dollar,
but keep a clear head when negotiating
<0
CJ')
CJ')
In today's corporate world, compa-
nies must expect to pay top dollar
for upper-level executives. More
is demanded of these talented execu-
tives in that results - which trans-
late into profits - are expected
quickly.
New presidents, CEOs, CFOs and
others must make a positive impact
virtually immediately, and for that
they are being paid handsomely.
But firms must keep in mind that
o
~
:2:
HIRING
EXEOUTIVES
William Frank
'"
C()
<:::
....
'"
;;.
a
U
they can't "break the bank" or mort-
gage their futures by paying a salary
or giving benefits that disrupt the
company. In other words, every job
has a value within a specific corpo-
rate setting. In some cases, a com-
pensation plan can be altered at the
top to attract the best. But in most
cases, guidelines must be maintained
when negotiations for top talent get
under way.
Those making these decisions
should not become enamored with a
candidate and "give away the compa-
ny." Like all business decisions, this
should also be made with a clear
head with emotions left at the door.
If a pay scale doesn't meet the needs
of a candidate, move on to the next.
Many talented executives can be con-
vinced to make a move - if the price
is right for them.
Firms should also be aware that
today they are frequently seeking
versatile executives. The days when
firms could divide responsibilities
among several senior managers are
over. Previously, it was common to
have managers who were responsible
for the wide gamut of responsibili-
ties. Today's successful executives
have financial, marketing, motiva-
tional and leadership skills.
Granted, upper-level jobs paying
into the high six figures and beyond
are rare. These positions are not
filled by people seeking jobs. They
are filled by happily employed and
well-compensated individuals who
are not :l.!!xiQllstQ Il1()yeQrl,-'I'he~~'H~__
--------rriaiViduals must be persuaded to
make a move. The incentives are
more power, increased salary, and
growth potential in these areas.
Often, people leave upper-level
jobs for more power. For example, a
senior vice president of one firm may
be blocked because the CEO is
excelling and is approximately the
same age. Consequently, the only
way to become No.1 is to move on. It
is a logical step.
Companies that hope to attract
this top talent must be willing to pay
for it in more ways than just salary.
Here are some tips:
Be prepared to offer a contract
with provisions for a take-over. Can-
didates for these positions realize
that the 1990s is the era of "merger
mania." They know the company
'"
'"
'"
:::
-0:;
;:,:
i:Q
'"
;;.
'0:;
:::
'"
...:::
~
~
d
.....
'"
~
Q
:::
;:,:
a
U
,
~
'"
~
a:
w
CO
:2:
~
Z
<0
w
:2:
~
...J
o
>
pledged to independence today could
agree to sell tomorrow-if the price
is right. These people will want the
classic golden parachute. However,
paying for this soft landing can be
expensive. In the $500,000 and up
salary range most executives are
seeking at least one year's salary
plus benefits for three years.
These candidates will also want
provisions that allow for "diminutidn
of authority." A senior vice president
or chief financial officer can be ren-
dered useless based on subtle
changes in the job description. Many
companies take away authority in
"unofficial" ways and use this as a
reason to "fire" or relegate a person
to a lower level job. This frequently
happens during mergers and acquisi-
tions. The candidate will demand a
very detailed provision in hislher
contract that specifies responsibili-
ties and authority. If this changes
during the course of employment, a
lucrative "buy-out" will go into effect.
Most senior level executives antici-
pate a 20 to 30 percent salarylbene-
fits increase. In addition, stock
options are perhaps the single most
important factor. In a private compa-
ny, it is common to offer "phantom"
stock or significant bonuses based on
performance.
However, many companies are
changing their approach to offering
stock. In many cases, a mediocre
return in a stock can result in huge
payoffs for the executive. Several
companies have put a new wrinkle
into the stock option equation that
involves purchasing stock at prices
that ascend over time. Executives
then profit only to the degree that
their stock price clears a certain hur-
dle. Each set of options has an expi-
ration date. One company also
requires top executives to purchase
stock at market value with a full-
recourse, interest-bearing loan from
the company.
Companies should expect to offer
employment contracts for president,
chief executive officer, chief financial
officer, chief human resource execu-
tive and legal counsel. These con-
tracts should be specific about what
will constitute termination. One big
mistake is to quote an annual salary.
The contract should quote a monthly
salary in the event of immediate ter-
__ _mination~____ --___-~_____ ~~--
Another major mistake is using
one set of criteria for the hiring pro-
cess. For example, a firm may hire
someone based only on leadership
skills and presentation but the indi-
vidual may be weak on finances.
Nonetheless, negotiations must be
made in the spirit of cooperation.
Keep in mind that the company is
making a considerable commitment
by hiring an individual charged with
the task of leading it into the future.
By the same token, the executive is
taking a risk by leaving a comfort-
able job for a new challenge. 0
William Frank is president of The
Curtiss Group, a Boca Raton-based
executive searchfirm with offices in
Miami, New York, Tampa, Fort
Lauderdale and Sao Paulo, Brazil.
G.)
=
-.
G.)
I
=
='
CD
CJ)
CJ)
,----
LD
C\J
a::
W
OJ
:2:
w
>
o
z
.
>
<I:
a
z
o
:E
.
<C
o
a::
o
~
LL
I
~
:=)
o
(f)
Board memberships
no longer ceremonial
By WILLIAM FRANK
THE CURTISS GROUP
Until recently, it was not unusual for
board meetings of public companies to
resemble social gatherings of close
acquaintances.
To a large degree, memberships on
boards were ceremonial and granted as
favors to friends or business associates.
Many times, business colleagues would
literally trade board positions. In other
words, "I'll put you on my board in return
for membership on yours."
These old-time practices placed little
premium on diversification of member-
ship, which, in turn, led to a board with-
out direction and executives who fre-
quently weren't accountable to
shareholders. But today, we're
seeing an increasing sophisti-
cation in the methods for find-
ing candidates, and this is a
direct result of a movement
among shareholders to hold
board members accountable
for company and stock perfor-
mance.
In recent years, we have seen Frank
shareholders take a greater role
in the direction of their company. Witness
this recent comment made by former
Scott Paper president and CEO Al
Dunlap, now chairman of Fort
Lauderdale-based Sunbeam Corp.: "The
one fact of life that is grossly overlooked
is that the shareholders own the compa-
ny."
Shareholders look to their board and
hold directors accountable. This presents
a double-edged sword. One is that boards
are becoming increasingly more respon-
sive to shareholders and are extremely
tuned in to company performance.
However, because of this increased
responsibility, many candidates are reluc-
tant to serve because of the potentiallia-
bility associated with serving.
With this increased responsibility and
complexities come increasing difficulty
in finding the right candidates to lead
public companies into the future. When
searching for these individuals, corporate
executives should keep in mind the fol-
10wiltg-gHidelines~-.~.-- -
. Board members must always main-
tain their objectivity when dealing with
executives of the company. Many think
the major role of the board is to hire, fire
and evaluate the performance of the pres-
ident and chief executive officer.
Consequently, it is important that these
high-level executives not be directly
involved with the selection process of a
board member. In short, it would be diffi-
cult for a board member nominated by a
CEO to fire or censure a friend or busi-
ness colleague. Basically, a director must
always maintain objectivity in dealing
f....c.
A"
~
COMMENTARY
with performance issues of upper-level
management
. Boards must plan for management
succession. It is inevitable and can be the
result of a firing, retirement or merger.
Directors must take succession planning
seriously to insure a smooth transition to
a new leader. They must have formal
evaluation and succession procession
plans, understand the company and its
strategy and participate in the develop-
ment of that strategy and be prepared to
defend it
. In this age of acquisitions, directors
must keep up with the ever-
changing takeover law. They
must be ready to render a judg-
ment at any moment on a man-
agement proposal to acquire, be
acquired or to fight a corporate
raider.
. Today's shareholders are
becoming increasingly more
vocal and active in the direction
of their company. Consequently,
directors must take investor rela-
tions programs seriously. Directors must
understand investor relations capabilities
and be amenable and responsive to share-
holders.
. Finally, directors must never forget
that they are accountable to shareholders.
They must continually evaluate their
roles, responsibilities and business prac-
tices. Today, many boards have devel-
oped performance evaluation criteria to
make sure that all directors are fulfilling
their roles. One of the key elements of
this evaluation is making sure the boards
have the proper diversification.
The profile of a board should reflect
broadbased expertise that includes
accounting, sales and marketing, man-
agement, product development and other
disciplines.
Board membership in the 1990s has
certainly become more of a "job" as
opposed to a ceremonial position. This is
the result of close shareholder scrutiny
and their increasing involvement in the
company.--- - - ~-_.~. --_...~.__.. .... ~_._-._----
The criteria for identifying board mem-
bers have become much more stringent
because of these growing responsibilities.
It is clear that the good-old-boy network
is becoming a thing of the past.
Objectivity in the selection process is a
must to insure performance, accountabil-
ity and focus.
William Frank is president and founder
of The Curtiss Group, a Boca Raton-
based executive search firm. The Curtiss
Group has conducted numerous searches
for directors of public companies.