Hewitt Associates Announces Chief Financial Officer Transition
December 07 2009 - 5:00PM
Business Wire
Hewitt Associates, Inc. (NYSE:HEW), a global human resources
consulting and outsourcing company, today announced that Chief
Financial Officer John J. Park has decided to leave the company
early next year to pursue new career challenges. Robert A.
Schriesheim, currently the executive vice president and chief
financial officer of Lawson Software, Inc., will join Hewitt as the
company’s new chief financial officer on January 4, 2010.
“I want to thank John for the tremendous contributions he has
made over his four years as Hewitt’s CFO. He built a talented and
deep finance organization that established strategic partnerships
with our operating leaders and strengthened internal controls.
These improvements helped us achieve record-high earnings and
operating margin and solid free cash flow. Our balance sheet is
strong and we are well positioned for future growth,” said Russ
Fradin, Hewitt’s chairman and chief executive officer. “Hewitt’s
Board of Directors and our entire organization have great respect
for John’s leadership and wish him continued success in his new
endeavors. I am personally grateful for the sound counsel John has
given me and the entire company.”
Mr. Park is committed to creating a smooth transition of
leadership to Mr. Schriesheim. The Company is pleased that he has
agreed to remain at Hewitt until early next year. He is evaluating
a number of opportunities for his next position.
Robert A. Schriesheim, 49, brings a diverse mix of experiences
as a chief financial officer, operating executive, strategist,
investor, and corporate board member. He is currently executive
vice president, chief financial officer and a member of the board
of Lawson Software, Inc., the world’s third largest publicly traded
Enterprise Resource Planning software provider. In his role, he
helped lead a broad operational, financial, and strategic
transformation following a trans-Atlantic merger-of-equals. As
reported recently by Lawson, Rob’s leadership has resulted in
operating margin increasing five fold, EPS increasing seven fold,
and organic growth in the core software business of twice the
industry average. This success came from a combination of strategic
investments and an aggressive focus on operating efficiency.
Previously, he held executive positions at ARCH Development
Partners, Global TeleSystems, SBC Equity Partners, Ameritech, AC
Nielsen, and Brooke Group Ltd.
“We are truly fortunate to have found a seasoned leader of Rob’s
caliber. His breadth of experience across major financial and
management disciplines, including corporate finance, capital
markets, operations, strategy, and corporate development, will be
invaluable as he helps lead Hewitt through a period of renewed
investment and growth,” said Mr. Fradin. “Rob is an experienced
global executive who brings a passion and demonstrated ability to
drive value creation across companies in a number of industries in
the technology sector. He will be instrumental in maintaining
Hewitt’s focus on operational efficiency while we aggressively add
new services and new clients around the globe.”
Mr. Schriesheim holds a master’s degree in business
administration from the University of Chicago Booth School of
Business and bachelor’s degree in chemistry from Princeton
University. He currently serves on the boards of directors at
Lawson Software, Georgia Gulf Corporation, and Skyworks Solutions.
He is also a member of The Economics Club of Chicago and The
Chicago Club.
About Hewitt Associates
Hewitt Associates (NYSE: HEW) provides leading organizations
around the world with expert human resources consulting and
outsourcing solutions to help them anticipate and solve their most
complex benefits, talent, and related financial challenges. Hewitt
works with companies to design, implement, communicate, and
administer a wide range of human resources, retirement, investment
management, health care, compensation, and talent management
strategies. With a history of exceptional client service since
1940, Hewitt has offices in more than 30 countries and employs
approximately 23,000 associates who are helping make the world a
better place to work. For more information, please visit
www.hewitt.com.
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