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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
     
      
       
     
     
     
     
     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
    revenue of $662m in 2005,
    just under 20% of the