crude oil collapse crisis or opportunity print - europe
TRANSCRIPT
Crude Collapse
Crisis or Opportunity? A leadership that can transform the energy
renaissance into a new global energy reformation
Indus trIal Pr ac tIce > natur al re source s
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Crude Collapse Crisis or opportunity?
a leadership that can transform the energy renaissance into a new global energy reformationBy Les T. Csorba, Partner, Heidrick & Struggles, Houston, and
Scott Eversman, Partner, Heidrick & Struggles, London.
As global oil and gas CEOs and senior
executives face one of their greatest tests
as leaders, many are quoting Churchill
who was fond of saying “we should never
let a good crisis go to waste.” With crude
prices plummeting more than 60% since
mid-2014, the oil and gas industry faces a
downturn perhaps not seen since the oil
glut of 1986, which created an industry-
wide depression and decimated an
entire generation of leadership, creating
a talent gap from which oil and gas
companies are still recovering. While
a rebound in commodity prices may
be the ultimate panacea, it will be a
new class of leadership that transforms
one of the largest industries on the
planet and creates opportunity out of
crisis. Relying on leadership attributes
that drive financial and operational
performance, this transformation will
occur across the business cycle—that
is, regardless of commodity prices.
Oil markets rebalance over time as price collapses
boost consumption and curb supplies, and investment
cuts curtail output growth; but the scope and quality
of the recovery will depend, in large part, on the
leaders responsible for stewarding their assets,
capital, and people through the time of uncertainty
and ambiguity. Since 2008, the industry flourished
with the innovation of unconventional technologies,
creating an energy renaissance in North America with
global geopolitical implications and robust economic
growth. Just as it was the singular decisions of men
and women in leadership that drove this oil and
gas revolution, how executives lead in the months
ahead will make or break a sustainable recovery.
On the heels of the oil collapse in late 2014, Heidrick
& Struggles released “The CEO Report,” one of the
most comprehensive studies of CEO leadership
attitudes ever undertaken. Released in Davos (just
a few hundred miles across the Alps from the OPEC
meeting in Vienna where the Saudis declined to cut
oil production), the report outlines the key attributes
that executives, especially energy executives, leverage
to thrive in environments marked by constant
change and disruption—the “new normal.”
The product of a year-long global research partnership
between Saïd Business School at the University of
Oxford and Heidrick & Struggles, The CEO Report and its
conclusions were based on in-depth interviews with more
than 150 CEOs from around the world and across business
sectors. As every global oil and gas leader knows too well,
chief executives today navigate a world of unprecedented
complexity and unpredictability. The Heidrick study found
that a CEO, or any senior level leader’s success, hinges on
adaptability, authenticity, and continual growth in his or
her role. In fact, many of the critical capabilities identified
in our report are especially meaningful to global oil and
gas leaders. These attributes, which transcend business
cycles, whether in downturns or booms, include the S3 of
change, ripple intelligence, the power of doubt, adapting
authentically, and a continuous learning mindset.
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In crisis there Is opportunity Naturally, oil and gas leaders are focusing their
energies on the current downturn, but the history
of the cyclical nature of the industry (backed by our
research) shows that they should be thinking more
broadly. Missed opportunities of previous downturns,
such as investing in future talent and sustaining a more
disciplined approach to exploring and producing oil
and gas, require a new leadership paradigm focused
on short-term demands and long-term investments.
In the midst of the precipitous decline in crude prices
and stubbornly low natural gas prices, leaders are taking
many of the steps you would expect. The exploration and
production companies are slashing capital expenditure
budgets, restructuring debt, and even issuing more
equity to provide future flexibility. The energy services
and equipment companies are also curtailing budgets but
are also reducing staff—particularly contractors—in order
to withstand the downturn, which history shows affects
services companies more severely than their customers.
The midstream companies are scaling back projects and
are focused on driving operational efficiencies (OE) to
deliver enhanced performance, reliability, and safety of
their pipelines, storage facilities, and gathering systems.
When considering long-term planning activities,
against the backdrop of constant change, several CEOs
in our study suggested scrapping the three-to-five
year planning cycle in favor of repeating 100-day
exercises, or supplementing them with contingency
plans that can be triggered quickly—especially sage
counsel for energy executives today. As one CEO
put it, “Trying to forecast the future has become an
impossible task.” Likewise, instead of relying upon a
quick rebound in crude prices, many are exploiting
the crisis to transform an industry that was perhaps
overheated, by making it more efficient and sustainable
across the business cycle: making decisions on assets,
capital allocation, and people to deliver optimal
performance and value regardless of commodity prices.
For example, industry observers (and perhaps even
the Saudis) have marveled at the speed with which oil
and gas leaders have already responded to the crisis.
The speed and severity of the downturn has certainly
been alarming, but the response has perhaps been
more impressive, with drilling rigs being laid down and
budgets adjusted with rapid pace. Some oil and gas
CEOs and executives displayed the critical attribute
our research identified as the “S3 of change,” an ability
not only to respond to the speed of change but also to
anticipate the scope and significance of the change itself.
Most notably, American shale oil producers are
implementing innovative ways and new technologies
to shed costs, allowing them to operate profitability in
a world where prices are $40 to $60 per barrel. Raising
the possibility that shale producers will develop low-cost
oil that the Saudis and other Gulf countries can produce,
this new reality may fundamentally change the future
economics of the industry, effectively making America,
as Dan Yergin put it, the world’s new “swing producer.”
Even ExxonMobil’s chief executive, Rex Tillerson, argued
that his company could weather the downturn even
if prices sank to $40 per barrel. Harnessing what our
report labeled a “ripple intelligence,” namely the ability
to anticipate and judge how, when, and why contexts
may interact to fundamentally be disruptive, Tillerson
leads an oil giant with gigantic projects such as liquefied
natural gas and deep-water drilling, which are decade-old
investments tested to perform and deliver value across
a broad range of oil prices from $40 to $120 per barrel.
Tillerson, who arguably runs the most disciplined global
enterprise company in the world, views the crisis as a
unique opportunity not just for growth, but reform, while,
of course, refocusing on fundamentals such as managing
cash wisely and carefully managing investments.
Even ahead of the downturn, industry CEOs like
Tillerson had focused on transformational initiatives
such as smarter capital efficiency, operational
excellence, standardization of processes, and new
drilling and completion technologies, all of which
reduce costs per well and build more performance
cultures. Moreover, as regulatory and stakeholder
environments become trickier, leaders are investing
in best-in-class systems around financials, safety, and
environmental stewardship, promoting transparency
to ensure compliance. These and other measures
build greater trust with key stakeholders, reduce
permitting time, and enhance business performance.
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Pressures on leadership to adapt are intense even in the
national oil companies (NOCs), despite their political
context and different business models. While the need
to generate revenue for national treasuries is paramount,
the drive for greater efficiency is equally critical to
protecting margins under intense pressure. Although
NOCs are frequently less capital constrained, many will
use a downturn to invest in innovation and technology.
At a recent conference in the Middle East, one senior
executive said, “In every challenge there is a tremendous
opportunity, and progress need not take a backseat.”
Yet, the opportunity to transform the industry remains
so much greater. Global management consulting
firms have been arguing for years that large oil and
gas companies have been leaving money on the
table. One report by Bain & Company estimated that
better data analysis could help oil and gas companies
boost production by 6 to 8%. Big Data and analytics
are commonplace in manufacturing, banking,
telecommunications, and airlines, but energy firms
lag far behind. A McKinsey & Company study found
that less than 1% of the information gathered from
about 30,000 separate data points on rigs around
the world was being made available to the people
in the industry who make decisions, potentially
missing massive savings on drilling and well costs.
Coupled with available technology and operational
efficiencies, oil and gas leaders armed with the
requisite skills revealed in The CEO Report can seize the
current crisis to enhance their business performance
and long-term sustainability. This leadership factor
may also have the effect of transforming the current
energy renaissance into a new energy reformation.
the essential skills The timing of the release of The CEO Report, laying out
the critical executive skill sets in a world of constant
change and turmoil, turns out to be prescient for the oil
and gas industry now grappling with uncertainty. We
believe the following attributes will be the most essential
to delivering performance across the business cycle.
the s3 of changeAs our research revealed, executives today need to
focus not only on the speed of change but also on its
scope and significance, or having an “S3” understanding
of change. Even before the collapse in crude oil
prices, a new generation of leaders anticipated the
necessity and speed of change that lay ahead.
A high-profile example of anticipating the S3 of change
is Shell’s acquisition of BG. By building its capital
reserves and managing debt effectively, Shell was
in a position to acquire BG just at a time when the
latter was completing a major capital expenditure
program and so less able to defend against takeover.
The move firmly positioned Shell in the LNG sector
in anticipation of renewed global growth, as well as
helped it enter the Brazilian market at an optimal time.
Consider also Peter Coleman, the CEO of Woodside
Petroleum, who from the outset of his tenure in May
of 2011 embarked on a strategy designed to maximize
the core business, leverage proven capabilities, and
grow the portfolio. Although conceived in a higher-
price environment, this prepared the company
to weather fluctuations in the dynamic Asian gas
markets. By maximizing the core business, Coleman
was able to focus the company’s efforts on cost
optimization while delivering on existing projects and
concentrating on the company’s primary operations.
Careful capital management, proven delivery, and
discipline in the core business enabled Woodside to
access further capital and embark on growing its portfolio.
Against the context of deteriorating prices in 2014, the
company completed a series of significant acquisitions
and continues to use the current low-price environment
as an opportunity to acquire distressed assets.
Despite the speed, scope, and significance of change
in the market, Woodside focused on creating a leaner,
more disciplined approach to its business, centered on its
existing proven capabilities, thereby building resilience
in key areas such as technology. Investments such as
these ensure the company is ideally placed to leverage
opportunities, while sharpening its competitive edge.
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ripple Intelligence
One of the most important
skills in a rapidly changing and
uncertain environment is the
ability to anticipate and judge
how, when, and why contexts may
interact to fundamentally disrupt
the business, or what our research
showed as “ripple intelligence.” As
one CEO put it, “if you haven’t got your
antennae out, you’re going to struggle
to see opportunities and threats which
may blindside you.” Particularly true for
oil and gas leaders, they will need to rise
above the clutter of managing the day
to day and instead harness the ability to
discern and connect events and anticipate
distant threats and see opportunities.
When, in May of 2014, Carl Trowell was
selected to lead London-
based ENSCO, one of
the world’s largest
deepwater drillers,
many advised him
to focus first on the
‘operational’ and ‘people’
issues, not the ‘strategic’
issues in his first 100 days as
CEO (and six months before the
November OPEC meeting when
oil prices would deteriorate
more quickly). However, the
former senior Schlumberger executive was keenly aware
of the broader macroeconomics and the overbuilt
global contract drilling market, and knew he had to
act ahead of the ripples to come. Trowell quickly
built a more disciplined strategic planning process
providing contingencies for the months ahead. His
ripple intelligence allowed him to see the potential
impact of multiple contexts simultaneously and get
ahead of the crisis by putting strategic and contingent
planning at the very top of his executive agenda, but
not at the expense of continuing the company’s focus
on operating excellence and customer service.
In a world of constant change, Ripple Intelligence
represents an early warning system for leaders able
to see broadly and think systematically. As one CEO
put it in our study, “It’s like when you ride a bicycle;
you always have to look a little bit further – if you look
just in front of your wheel, you lose your balance.”
This skill allows an oil and gas executive to look for
the ripples outside of the company and hovering
above the business, customers, and competitors to
search the landscape for emerging connections.
Take one Chairman of a U.S. shale producer who is
looking well beyond the downturn to consider how to
take advantage of future market opportunities. After
working with service companies to slash well costs, he
worries it may be difficult to capture their attention
(and their equipment) when there is strong demand.
His ripple intelligence is asking whether it would be
prudent for his production company to build a service
company capability as a cost center in order to provide
more optionality and speed in what has essentially
become a manufacturing business (as some peers have
done such as EOG, Southwestern and Pioneer). Of
course, there are additional ripples and consequences
to such a business proposition, but it is this kind of
thinking that may create opportunity out of a crisis.
In a similar vein, a UK based exploration and production
(E&P) company with assets in Asia and Africa took a
strategic decision to move away from its pure exploration
strategy of ‘find and farm-out’. Anticipating reduced
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liquidity in the capital markets and a difficult IPO market,
this mid-cap entity decided to acquire a peer group
company with producing assets. This created a self-
sustaining business model that reduced reliance on
external funding for its exploration activity. It is another
example of how a CEO’s ripple intelligence can help
to mitigate threats to an existing strategy by changing
the business model and adapting to circumstances.
A new strategy, however, brings new challenges
in the form of post-merger integration, top-team
effectiveness, and combining two distinctive cultures.
Power of doubt As our study found, expressing doubt has become a
powerful decision making tool and critical skill among
CEOs today. Indeed, the quality of decision -making of oil
and gas leaders around managing costs, risk, and capital
is especially timely given the threats and opportunities
on the horizon. As one CEO put it in our study, keen
to protect against a false sense of security and the risk
of being blindsided, “A certain level of professional
doubt should be the quality of any good leader.”
One oil and gas CEO, with one of the healthiest balance
sheets among all large independents, has had to fend
off energy bankers and board members to resist the
temptation to pounce too hastily on asset and company
acquisition opportunities. Inviting other voices to the
table, he has carefully cultivated the power of doubt,
which has, in turn, instilled a more disciplined approach
across the company as they consider more timely and
accretive opportunities down the road. This is discipline
that will serve the company well in any phase of the
business cycle—by avoiding overinvestment during
the boom time and overcutting during the downturn.
The CEO Report found that doubt is to CEOs what
nerves are to elite athletes: a source of focus and
insight when harnessed constructively, and a threat to
peak performance when not. For example, one of the
lessons learned from previous downturns has been the
precipitous manner in which energy companies have
cut staff and pushed talent development down the list
of priorities. The oil glut of 1986 was so devastating
that an entire generation of engineers and geologists
(also operating and asset managers) was lost as a result
of the massive layoffs and the commensurate lack of
talent management programs. In The CEO Report, one oil
executive described the talent gap that a cyclical industry
can face: “When things are good you hire a lot; when
things are bad you don’t. And so the whole industry
has a lot of people with more than 25 years’ experience,
a lot of people under 10, and not much in between.”
Similarly, CEOs and energy executives face pressure to cut
staff dramatically and sacrifice investments in developing
the next generation of leaders. One senior executive of a
global oilfield service company recently had the courage
to express doubt when considering such drastic layoffs.
He raised the issue of the company’s future technical
competencies as a competitive differentiator when the
market returns. Instead of responding reflexively to a
demand for reductions, his doubt (and, yes, even his
ripple intelligence) created a healthy conversation around
talent management and a more sustainable outcome
for his company. Perhaps some cuts in staff cannot
be avoided, but the power of doubt expressed by this
leader, and the consideration of a longer-term talent
strategy, underscored how he valued intellectual and
human capital, and this resonated throughout his team.
adapting authentically Facing relentless pressure for change, oil and gas
executives also have to consider adaptability as an
essential skill. Yet, as our report showed, authentic
leadership in times of uncertainty and change is also
required. As such, the need to balance between being
adaptable, while remaining true to one’s personal
sense of purpose and authenticity, is critical.
For example, many energy companies have established
safety performance and environmental and community
stewardship as essential values maintained at any
cost. Being able to adapt authentically is the skill
executives deploy to adapt to the requirement of
cutting costs and moving with speed to achieve
operational efficiencies, while resisting the tendency
to cut corners and sacrifice essential values such as
health, safety, or environmental performance.
Practically every oil and gas business that operates
heavy equipment around high-pressure and high-
temperature environments promote a “safety-first”
culture. Yet, some “safety-first” companies in commodity
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downturns operate instead with the philosophy that
“we’re not ultimately in business to be safe but to
enhance value.” Championing safety on the one hand
while reducing costs that compromise safety on the
other creates hypocrisy and destroys leadership trust.
Highlighting further the need for authenticity in the
context of safety, few could have envied Bob Dudley
when he took the mantle of leadership at BP following the
Macondo disaster in 2010. Despite an enormous volume
of litigation, and considerable financial fallout, BP used
the incident to affect a metamorphosis in its business. As
a result, the company successfully delivered an ambitious
program of cultural change, performance enhancement,
cost control, and operational improvement. Rebuilding
trust in the BP brand while implementing a strategy of
sustainability and future growth is still ongoing. However,
Dudley has made significant progress in the past five years
through his vision and purpose, enabling him to adapt
authentically to an unprecedented set of circumstances.
Leaders who adapt authentically can manage businesses
that are both safe and profitable and outperform their
peers. While focusing on driving change and remaining
true to their values, their leadership comes across as
authentic, which creates genuine followership and
therefore higher performance. Oil and gas leaders are
under massive pressure to adapt, but they have to do
so in an authentic way, modeling integrity, and respect
for others and building trust. If CEOs and executive
teams want to achieve the ultimate understanding
of how best to balance the S3 aspects of change
during an energy downturn, they will need the buy-in
and followership of employees and stakeholders.
The skill of authentic adaptability does that.
The CEO Report showed that CEOs viewed authenticity as
essential both outside and inside the organization. On
the outside, it is a means of generating trust among a
wider group of stakeholders, not just shareholders. On
the inside, it is a cornerstone of productive collaboration
that insists CEOs “have a high level of trust from your
colleagues that you will do the right thing.” Or, as our
report found, authenticity is the fuel that drives trust.
Authenticity was a critical factor in delivering a
cultural transformation project in a large independent
exploration and production company. The CEO used a
values-led approach to improve performance among
the company’s workforce while propagating a global
mindset to deliver growth. The resultant cultural change
helped to integrate recent acquisitions while building
resilience within the business. Improved staff retention
also ensured a sustainable talent pipeline for the future.
In times of crisis, authentic leadership and trust building
are essential. Trust is literally the decision that someone
makes to rely upon someone else under the condition
of risk. As such, oil and gas leaders have to reduce the
risk that the trust will be broken. One CEO who is trying
to adapt authentically to the crude oil collapse has
been intentional about holding town halls to create
candor and transparency about future plans. He has
created an open-forum session to solicit feedback where
employees have access to the CEO and feel their voices
are being heard. Likewise, he has been deliberate in
communicating with investors, all of which will build the
basis of support for changes that may be necessary.
Finally, leadership in uncertain times requires something
closely connected with authenticity, which is a clear
purpose. Defining and aligning purpose becomes
a powerful tool in reducing doubt when tough
decisions need to be made in times of crisis. Or, as
one CEO confided in our study: “If you have a sense
of purpose that is true and genuine and exciting
and authentic, the unknown is less of an issue.”
Most oil and gas companies have powerful purpose
statements that give meaning to each employee and
stakeholder. Many have a purpose to produce clean and
efficient natural gas, or to become the most admired
energy company, or to emphasize values of environmental
stewardship or responsible energy development, or to
provide plentiful, clean, and reliable energy that powers
the world. Energy executives who have a well-defined
and aligned purpose will create a touchstone for reducing
doubt around tough decisions and win support for
their execution. A powerful purpose can become the
foundation on which transformation is achieved.
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a continuous-learning Mindset Perhaps the most compelling finding in our study of
CEOs was that success today as a senior executive or
CEO hinges on continual growth in the role, even more
than on the preparation beforehand. For oil and gas
executives leading in uncertain times, many of these
attributes such as “S3” of change, ripple intelligence,
the power of doubt, and authentic adaptability should
be learned and developed. Yet this continuous-learning
mindset must not only be developed by the CEO, but he
or she should be investing in the future development of
the organization’s talent pipeline. Such programs build
a sustainable business and create high-performance
cultures where people feel valued and retention is high.
Most downturns generally cause CEOs to grab the wheel
more tightly, often focusing on tactical operational
issues, but the most effective
leaders are summoning
up the courage to invest
in their own continuous
development as well as the
development of their
people. It is no accident
that the energy
companies most likely
to manage
well in the midst of the downturn, and then thrive when
prices recover, are precisely those that have invested in
leadership development. Global energy companies such
as ExxonMobil, Chevron, Halliburton, Schlumberger, and
National Oilwell Varco have all developed sophisticated
talent management programs for decades and have
utilized rotational talent programs that underscore
the value of experiential development. Regardless of
the business cycle, they have remained true to their
commitment to develop the next generation of leaders,
thereby creating sustainability and long-term value.
Take, for example, Noble Energy, a leading global
independent oil and gas company, which started
investing in executive assessment and coaching plans
for its executives years ahead of the recent downturn.
Led by Noble’s former chairman and CEO, Chuck
Davidson, a 30-plus-year industry veteran who has seen
his share of downturns, the company created sustained
development, coaching, and succession plans for every
major company function, equipping the company with
the leadership competencies and bench strength to
manage in a world of complexity and uncertainty.
As one CEO put it in our report, “Leaders should believe
that change is the oxygen of growth and creativity.”
Davidson’s commitment to this continuous-learning
mindset has been continued by his successor, Dave
Stover. They have created a practical way to be
prepared for managing current and future challenges
and through this also have built and sustained
morale—always helpful in a downturn.
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Companies that rigorously invest in the
development of their leaders will be not
only creating opportunity from the latest
energy crisis but also gaining distinct
market advantage. The industry can
produce more oil more cost efficiently
and reduce costs while focusing on
safety and environment stewardship.
They can both save money and save
lives. They can build shareholder value
and serve as good corporate citizens.
Equipped with a requisite of these new skills, energy
executives will be in a position to leverage this crisis to
enhance business performance, long-term sustainability,
leadership development and high morale. It may even
have the effect of transforming the North American
energy renaissance into a global energy reformation.
About the authorsLes T. Csorba, a leading energy executive
recruiter, manages the Houston office of
Heidrick & Struggles and is a member of the firm’s
CEO & Board Practice. He is the author of Trust:
The One Thing That Makes or Breaks a Leader.
Scott Eversman, a partner in the Heidrick & Struggles
London office, is a member of the firm’s CEO & Board
Practice and the Global Natural Resources Practice.
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the Ceo reportThe findings in “The CEO Report:
Embracing the Paradoxes of
Leadership and the Power of
Doubt” are based on rich, individual
conversations with more than
150 global CEOs, making it one
of the most comprehensive, in-
depth studies of how global CEOs
lead. Each interview lasted an
average of 55 minutes and, with
few exceptions, was conducted
face-to-face. All interviews were
anonymized prior to analysis by
researchers at Saïd Business School,
University of Oxford. For more
information on the report, please
visit:
www.heidrick.com/theceoreport
The CEO ReportEmbracing the Paradoxes of Leadership and the Power of Doubt
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the Leadership investmentAt Heidrick & Struggles, we are working
with boards of directors and executive
teams to ensure they have in place
the very best practices in leadership
development. For more than 60
years, we have helped the world’s
most prestigious companies build and
develop winning leadership teams.
Our experience has taught us that managing and
developing executive talent is as important as
acquiring it. To assist clients in transforming how
they manage and upgrade their talent and ensure the
sustainable business success their stakeholders and
the community demand, – we have assembled a cadre
of deeply skilled consultants well-versed in human
capital management and leadership team dynamics.
Our leadership consulting professionals are assisting
executive teams and boards with a number of best
practices in critical areas of talent management, such as:
• Talent recruitment: A higher standard of executive
recruitment and more holistic evaluation that
transforms the headhunter into a soul hunter.
• Talent management: Talent strategy, succession
planning, and rigorous assessments of high
potentials that include thorough 360° referencing
to determine both strengths and gaps.
• Executive on-boarding: Assimilation activities,
transition consulting, and team development.
• Executive team development: Professional coaching
and mentoring programs to ensure that all new
employees are inculcated with a company’s values of
integrity, safety, and long-term sustainability. These
are coaching and development plans that emphasize
experiential over educational development.
• Board building: Board recruitment,
assessment, and coaching.
• Culture shaping: Led by Senn Delaney, the
world’s premier culture-shaping firm, we help
companies build winning cultures to gain
competitive advantage and thrive in a world
of constant change and complexity.
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Global Industrial PracticeHeidrick & Struggles’ Global Industrial Practice helps
industrial companies find innovative and effective global leaders
who can thrive in today’s complex environment.
Top industrial companies recognize that the quality of their leadership talent makes the real competitive
difference in a world of globalization, rapidly emerging markets, off-shoring, outsourcing, and far-flung
supply chains. With more than 150 consultants in more than 50 locations around the world, our Industrial
Practice team combines unparalleled search resources with a deeply consultative approach. We have strong
expertise across all industrial sectors, including: aerospace, defense and aviation; agribusiness; automotive;
building products; capital equipment; chemicals; electrical; engineering, construction, and infrastructure;
mining and metals; paper and packaging; and transportation and logistics.
Working closely with clients ranging from early-stage start-ups to the world’s largest public companies, we
develop an organization’s ideal candidate profiles by getting to know its unique competitive challenges,
business objectives, and leadership culture. We help our clients see beyond their candidates’ functional or
industry backgrounds to find those leaders most suited to meet their organization’s business objectives.
Global Industrial Practice leadersDaren Kemp
Global Managing Partner
Stafford Bagot
Regional Practice Managing Partner, APAC
Guy Farrow
Regional Practice Managing Partner, Australia and New Zealand
Bo Herbst
Regional Practice Managing Partner, Americas
Stefano Salvatore
Regional Practice Managing Partner, EMEA
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