ABSTRACT
The business of executive recruiting has not always been so dynamic. Executive search was a no-growth industry before 1970, and recruiting practices were far less sophisticated than those of today’s leading firms. The primary role of the executive recruiter was to act as the client’s agent in handling the delicate matter of contacting possible job candidates. The situation in the executive recruiting industry began to change in the late 1960s. Korn/Ferry began its global expansion in 1972 by moving into Europe, and established Tokyo’s first executive search office in 1973. Lester Korn’s position as Chairman and CEO of Korn/Ferry provides him with a unique window on executive succession and the development of the recruiting business. Korn speculates that in the future the executive search industry will be dominated by a few large firms that will provide their clients with a greater range of more sophisticated services.
