Hewitt Associates names new finance chief
GLOBAL – Hewitt Associates has named John Park to take over from Dan DeCanniere as chief financial officer.
Park, the former CFO and acting president at online travel firm Orbitz, will join the Illinois-based consulting firm as of November 21. DeCanniere resigned for unspecified reasons in June.
“Park, 44, brings a diversity of experience in finance and business strategy to Hewitt, “ the company said. He will report to chairman and chief executive Dale Gifford.
Gifford said: "The richness of John's experience in helping to lead major organizations through change will greatly benefit our management team and our company as we capitalize on our past investments and leading market position."
The firm also said the acquisition of Philips pension administration business earlier this year helped to boost consulting revenues at Hewitt Associates in the 2005 fiscal year.
The “favorable effects” of the Philips win - and the acquisition of Puerto Rico business – were worth $2m.
Consulting revenues in the year rose 6% to $817.7m – with segment income up 35% at $169.8m.
“The increase was driven by growth in retirement and financial management consulting services, primarily in Europe and North America, and talent and organization consulting services, primarily outside North America,” Hewitt said.
Hewitt’s total net income rose to $134.7m from $122.8m. Net revenues were up 29% at $2.84bn.