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Evening Standard's Consulting Special reaches 855,000 potential hires
 
 The publication of a new
quarterly “Consulting
Special” section in the
Evening Standard on 27
February broke new
ground. The initiative
is the result of a
partnership between
Top-Consultant.com and
the London newspaper.
The first edition
spanned five pages and
our thanks go to all
those who contributed to
the inaugural edition,
most notably: David
Thomlinson, UK & Ireland
MD of Accenture;
Steve Varley, head of
advisory services at
Ernst & Young; Sej
Butler, North East
Europe HR partner –
recruitment, IBM
Business Consulting;
Gareth Bunn, head of
public sector consulting
services at		 
 Capgemini; Fiona
Czerniawska, director of
the Management
Consultancies
Association’s think
tank; and Mick James,
journalist at
Top-Consultant.com.
   The edition reached
an audience of 855,000
readers drawn from
businesses and
organisations across the
capital. Amongst the
editorial pieces was a
review of the role the
consulting industry has
played in the public
sector change agenda, a
counter-balance to the
barrage of negative
press coverage that has
appeared in the UK media
over the last months.
This was one of the
initial aims of the
partnership, as
Top-Consultant Director		 
 Tony Restell commented
at the time of its
announcement late last
year:
   “Recently there has
been a spate of very
one-sided press coverage
of the consulting
industry. In striking
this partnership with
the Evening Standard,
our aim is firstly to
provide some more
balanced coverage of the
UK consulting industry –
and to talk about all
the positive ways in
which consulting firms
benefit the UK economy
and many of our largest
corporations. We also
want to provide our
clients with a new
recruitment channel for
reaching potential hires
- and this new
partnership allows us to
offer print advertising		 
 as well as online
advertising solutions.”
   The Consulting
Special featured five
in-depth editorials that
will be reproduced on
Top-Consultant.com in
the coming weeks.
Headline stories were:
  • Boom time for
    consultants     – growth
    prospects for the UK
    industry are looking
    positive
    • ;
  • Recruiters
    struggling to meet
    demand     – hiring staff
    is the number one
    constraint to growth
    • ;
  • Have you got what
    it takes?     – firms now
    hiring in staff from
    outside the consulting
    sector
    • ;
  • Innovation
    is the name of our game
       – an interview with
    Accenture’s UK & Ireland
      
    		•  
        MD David Thomlinson;
  • Consultants
    driving change     – a more
    balanced assessment of
    the consulting industry
    and its role in
    transforming the UK
    public sector
    • .
      
    Click here for the PDF
    sample of this
    edition    .
      
       The next quarterly
    consulting specials in
    the Evening Standard
    are scheduled to appear
    in the 15 May and 25
    September editions.
    Advertisers interested
    in having a presence in
    these special management
    consultancy feature
    sections should contact
    iris@top-consultant.com
    		 
     
    Egremont reveals the identity of ‘CEO 2.0’
     
     The next generation CEO
    is younger, does more
    for less and doesn’t
    hang around – but is
    more likely to stay in
    the role for longer if
    he or she is home-
    grown, according to
    research from Egremont,
    the change management
    consultant.
       Egremont has
    conducted research into
    the changing face of the
    CEO, and has made some
    interesting findings
    about ‘CEO 2.0’.
       Egremont has found
    that:
      
       - Over the last 10    		 
     years, CEO average
    tenure has dropped from
    11.5 to 8.3 years –
    hitting record lows in
    2006;
      
       - CEO turnover is
    increasing
    significantly: in 2006,
    15% of European CEOs
    left their job – roughly
    five times as many as
    left their position in
    1995;
      
       - Over the same
    period, average age is
    getting younger: last
    year, 15% of American
    CEOs were under 55 – yet
    in 1995 this was only    		 
     8.8%;
      
       - The average age of
    CEOs at FTSE 100
    companies is now 52
    years: between 2004 and
    2007 the average dropped
    by more than a year;
      
       - CEO remuneration
    has skyrocketed over the
    past 10 years – however
    there is no measurable
    correlation between
    remuneration and
    performance (according
    to a recent Forbes
    study);
      
       - Over the longer
    term, home-grown CEOs    		 
     are more likely to stay
    longer.
      
       Sean Connolly,
    director at Egremont,
    commented: “There are
    significantly more
    pressures on chief
    executives now than 10
    years ago. Companies are
    bigger and chief
    executives need to lead
    with more innovation to
    stay on top – and their
    profile is changing to
    reflect this.”
       He added: “The most
    obvious change is age.
    At HMV Alan Giles
    retired in his 60s and
    was replaced by Simon    		 
     Fox, who is 46. Lord
    Brown at BP is 58 and
    his successor, Tony
    Hayward, is only 49.”
       “The behaviours of
    CEO 2.0 mean that the
    need to demonstrate
    improved return on
    investment becomes ever
    more acute – chief
    executives can no longer
    expect a 20 year innings
    to deliver on their
    promises,” concluded
    Connolly.
      
           		 
     
    BearingPoint considers EMEA business unit sale
     
     BearingPoint is
    considering selling a
    stake in its Europe,
    Middle East and Africa
    business unit to
    employees.
       The company said it’s
    mulling over the sale of
    a "significant portion
    of its investment" in
    the EMEA business unit
    to employees of the
    unit, but it added that,
    at this time, it’s only
    exploring the option and
    no specific plans or
    timetable for a final
    decision have been
    approved by its board of    		 
      
       
     
     
     
     
     
     revenue of $662m in
    2005, just under 20% of
    the company's overall
    sales, but the region
    contributed only 13% of
    gross profit due in part
    to severance costs in
    Germany, France and
    Spain.
       BearingPoint also
    announced its
    preliminary results for
    the full year 2006, but
    the company is not yet
    up to date in its
    accounts and will miss
    the 1 March deadline for
    filing its 2006
    financial statements    		 
     with the Securities and
    Exchange Commission. It
    now expects to complete
    the report in June and
    to be back on track with
    its quarterly filings in
    the third quarter of
    2007, after the design
    and implementation of a
    new accounting system is
    completed.
       The company estimates
    2006 revenue grew 2% to
    5% to a range of $3.45bn
    to $3.55bn, slightly
    ahead of analysts’
    expectations. However,
    the costs of auditing
    and rebuilding its    		 
     systems, and the
    settlement of some
    problem contracts means
    that it will report a
    pretax loss of $144m to
    $214m.
       BearingPoint filed
    its report for the year
    2005 in November which
    revealed a loss of
    $721.6m, or $3.59 per
    share, on revenue of
    $3.39bn.
       CEO You also revealed
    that it has brought in
    Ernst & Young to audit
    its 2007 accounts, while
    PWC works simultaneously
    on completing 2006.     		 
     directors.
       "We believe that
    exploring this option
    for our EMEA business
    unit will enable us to
    accelerate our vision to
    become the next great
    consultancy and
    springboard the
    company's growth," said
    chief executive Harry
    You.
       EMEA contributed    		 
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