Korn/Ferry Adds LeaderSource to Offerings

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<p><b>Los Angeles &mdash; Jan. 10<br /></b>Korn/Ferry International, a global provider of talent management solutions, has acquired LeaderSource LLC, a leadership development, executive coaching and team effectiveness consultancy based in Minneapolis.<br /><br />The new entity, which will be called LeaderSource, A Korn/Ferry Company, will become a wholly owned subsidiary within Korn/Ferry&#39;s Leadership Development Solutions business. </p><p>LeaderSource headquarters will remain in Minneapolis, and its founder, Kevin Cashman, will join Korn/Ferry as president of LeaderSource, A Korn/Ferry Company.&nbsp; </p><p>LeaderSource had revenues in 2006 of $3.5 million. Financial details of the transaction were not disclosed.<br /><br />&quot;Korn/Ferry&#39;s acquisition of LeaderSource reinforces our commitment to providing a broad range of solutions to our clients,&quot; said Paul C. Reilly, Korn/Ferry chairman and CEO. &quot;We now offer the largest executive coaching network available under one talent management brand.&quot;<br /><br />This latest venture follows Korn/Ferry&#39;s August 2006 acquisition of Lominger Ltd., one of the largest providers of leadership development tools for individuals, teams and organizations. </p><p>With the acquisition of LeaderSource, Korn/Ferry&#39;s global network of executive coaches will reach nearly 200.<br /><br />&quot;This venture supports Korn/Ferry&#39;s long-term strategy of providing clients an increasing array of talent management offerings,&quot; said Gary Burnison, Korn/Ferry chief operating officer. &quot;We will continue to add and develop talent solutions that our clients are demanding.&quot;<br /><br />LeaderSource was founded in 1977 to create an integrated approach to transforming leaders, teams and organizations &mdash; an approach that led Fast Company to call it the &quot;Mayo Clinic of Leadership Development.&quot; </p><p>Since then, LeaderSource has consulted with hundreds of organizations globally and today offers a full suite of customized coaching, leadership development and team effectiveness programs.<br /><br />&quot;Joining Korn/Ferry gives us an outstanding opportunity to apply and expand our services for our clients on a more global scale, and to be associated with the talent management industry&#39;s most prominent brand,&quot; Cashman said. </p>

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