LINCOLNSHIRE, Ill.--(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.