Global management consulting firm AT Kearney on Monday announced the completion of a management buyout of the firm from its former parent company, EDS.
AT Kearney would now operate as an independent, privately owned management consultancy, with 100 per cent of the equity owned by officers in the firm, a company release said in New Delhi.
"Private ownership is the best model in today's management consulting environment," AT Kearney chief executive Henner Klein said, adding: "Completing this transaction marks the beginning of an exciting new chapter in AT Kearney's history."
"As an independent firm, we expect to tap the entrepreneurial spirit of officers and staff, delivering high-impact results requiring a combination of strategy, operations and technology expertise and thought leadership. We will continue to serve clients through one of the largest global networks and will maintain our overall geographic footprint," he said.
More than 170 AT Kearney officers from 26 countries participated in the transaction as investors. Financial details were not disclosed.
An 11-member board of directors elected by the AT Kearney officers will serve as the primary governance vehicle for the newly-independent firm. Klein will serve as chief executive and David Asper as chief financial officer.
