||This article appears to be written like an advertisement. (June 2013)|
|Type||Subsidiary of PwC|
|Headquarters||101 Park Avenue, Manhattan,
New York City, New York, U.S.
|Number of locations||57 offices around the world|
|Key people||Cesare Mainardi (CEO)
Tony Poulter (Chairman)
|Revenue||$1.3+ billion (2011)|
Strategy& (Formerly Booz & Company) is a global management consulting arm of assurance and management consulting firm PricewaterhouseCoopers established in the United States in 1914 as the Business Research and Development Company. The firm was acquired by PwC on April 4, 2014, and is active in a broad range of sectors, including Energy, Healthcare, Financial Services, Chemicals, Telecommunications, Automotive, Aerospace, Media, Technology and Fast-Moving Consumer Goods (FMCG).
The company has 57 offices around the world. 70 of the world's largest 100 corporations and 400 of the largest 500 US corporations are Strategy& clients and the firm has been involved in some of the most celebrated business episodes of their day, including the dawn of the contract system for Hollywood movies, the merger of the National and American football leagues, and the rescue of the Chrysler corporation from bankruptcy. More recently, the firm has played a major role in working with prominent health systems and payors following the passage of the Patient Protection & Affordable Care Act.
On October 30, 2013, it was announced that PwC would buy and merge with Booz & Company, including the company's name and its 300 partners, after a December vote of the Booz & Company partners authorizes the deal. The deal closed on April 4, 2014, and the firm was formally renamed to Strategy&.
- 1 History
- 2 Notable contributions
- 3 Prominent assignments
- 4 Offices
- 5 Competitors
- 6 Recruiting
- 7 Notable companies founded by current and former employees
- 8 Staff & Alumni
- 9 See also
- 10 References
After graduating from Northwestern University in Evanston, Illinois in 1914, Edwin G. Booz developed the business theory that companies would be more successful if they could call on someone outside their own organizations for expert, impartial advice. This theory developed into a new profession — management consulting — and the firm that would bear his name. Booz established a small consulting firm in Chicago, and two years later, he and two partners formed the Business Research and Development Company, which conducted studies and performed investigational work for commercial and trade organizations. This service, which Booz labeled as the first of its kind in the Midwest, soon attracted such clients as Goodyear Tire & Rubber Company, Chicago's Union Stockyards and Transit Company, and the Canadian & Pacific Railroad."
In 1970, Booz Allen went public with an initial offering of 500,000 shares at $24 per share. Trading continued through 1976.
The company was spun off from Booz Allen Hamilton in conjunction with a private equity takeover by The Carlyle Group in 2008. The firm represents the commercial portion of the consulting business, as well as all consulting operations with government entitites outside the United States. Booz Allen Hamilton was then focused exclusively on U.S. government consulting endeavors. However, as Booz Allen Hamilton's three-year noncompete provision has expired, it is now building out its commercial consulting practice focusing on technology integration and cybersecurity programs.
The company purchased Katzenbach Partners for an undisclosed sum in 2009, and has since launched the Katzenbach Center focused on the development and application of innovative ideas for organizational culture and change.
In 2012, Axon Advisory Partners joined the company to launch Booz Digital, a full-service team of strategists, designers and technologists who help companies turn ideas into transformational digital businesses.
In April 2013, Booz & Company acquired international consulting firm Management Engineers for its operations expertise and experience in industries such as manufacturing, chemicals and industrials. Through the acquisition, Management Engineers added 17 partners and 145 staff to Booz & Company, along with a market position in Germany, as well as China, the UK and the US.
On October 30, 2013, Booz & Company announced it would be sold to PricewaterhouseCoopers as part of a conditional merger pending regulatory approval and the vote of Booz partners scheduled for December 2013. Booz partner's voted in favor on December 23, 2013, and the deal was closed in early April, 2014. The acquisition, and subsequent change of name from Booz & Company to Strategy&, was announced on April 4, 2014. The name, pronounced "Strategy and", was widely criticized at the time.
Over the years, Strategy&'s predecessors (Booz & Company and Booz Allen Hamilton) have been credited with developing some of the most important concepts in business. Most notably, the firm coined the terms and developed the concepts of supply chain, supply chain management, product life cycle, the PERT Chart, and the Organizational DNA concept.
The firm publishes the majority of its thought leadership in its quarterly management magazine Strategy+business, which, in 2009, was one of just two business magazines to grow its circulation, along with The Economist. The publication's founding Editor-in-Chief Joel Kurtzman was a former Harvard Business Review Editor-in-Chief. While at strategy+business, he coined the widely used term thought leader.
In 2010, the independent White Space report on consulting firms' thought leadership, ranked Strategy&'s predecessor, Booz & Company, as first in foresight because of "the consistently interesting and topical writing in strategy+business".
The Katzenbach Center at Strategy& has generated pioneering research on the importance of fostering companies' informal organization to improve corporate performance. In a white paper entitled "Fast Track to Recovery" and the book Leading Outside the Lines, Strategy& Partner Jon Katzenbach uses various case studies to illustrate the exchange between the formal and the informal elements of organizations.
Strategy &'s predecessors have had a hand in several notable private and public engagements throughout its years. The dawn of the contract system for Hollywood movies, the merger of the National and American football leagues, the rescue of the Chrysler Corporation from bankruptcy, the creation of Deutsche Telekom from government agencies that had grown up on both sides of the Iron Curtain, the redesign of MTV programming, the HP-Compaq merger, all involved Strategy& predecessor firm assignments.
Australia, New Zealand & South East Asia
Strategy& has several main competitors in the market to provide C-level strategy services to Fortune 500 companies and major government institutions: McKinsey & Company (McKinsey), The Boston Consulting Group (BCG), Bain & Company (Bain),Deloitte consulting, Roland Berger Strategy Consultants and A.T. Kearney.
In 2007, the firm had roughly 150,000 applicants and 1,033 new jobs. The firm is among the leading recruiters of graduates of top-ranked business programs in the US and overseas. Strategy&'s predecessor, Booz & Company was the second largest recruiter at Columbia Business School in 2011 and the fourth largest recruiter at Harvard Business School that same year. In Europe, Strategy&'s predecessor, Booz & Company, was the third largest recruiter at London Business School in 2011 and INSEAD.
Notable companies founded by current and former employees
Staff & Alumni
|This section relies on references to primary sources. (August 2010)|
- Jon Katzenbach: Senior Partner — Former McKinsey Managing Partner; Founder of Katzenbach Partners
- Kenneth Kurtzman: Senior Partner — Former General Manager and Strategic Planning Executive, Compaq
- Thomas A. Stewart: Chief Marketing and Knowledge Officer — Former Editor-in-Chief, Harvard Business Review
Alumni in Business
Strategy& employees have been known to exit into industry after consulting, as clients often look to hire them. Below is a list of former employees prominent in industry.
- Abigail Johnson — Vice Chairman, Fidelity Investments
- Alex Oliver — Founding Partner, Oliver Wyman
- Andrew Stern — CEO, SunGard Availability Services
- Ari Bousbib — CEO, IMS Health; former President, United Technologies
- Arthur D. Collins, Jr. — Former CEO and Chairman of the Board, Medtronic Inc.; Board of Directors, Boeing; Board of Directors, Alcoa, Board of Directors, US Bancorp, Senior Advisor, Oak Hill Capital
- Azran Osman Rani — CEO, AirAsia X
- Barry McCarthy — Venture Partner, Technology Crossover Ventures; former CFO, Netflix; Board of Directors, Eventbrite, Chegg, Pandora, Wealthfront
- Bill Jackson — Executive Vice President, Operations and Innovation, Johnson Controls 
- Bill Wyman — Founding Partner, Oliver Wyman
- Bob Bakish — CEO, Viacom International Media Networks
- Brian Murray — President and CEO, HarperCollins Publishers
- Charles L. Teschner, Jr. — Executive VP of Global Strategy, McGraw-Hill Companies
- Conrad Winkler — Executive Vice President, Long Products Group, Evraz Inc NA 
- Christopher Bland — Chairman, Royal Shakespeare Company; former Chairman of British Telecommunications; former Olympic fencer
- Daniel Weiss — President, Haverford College
- David Newkirk — CEO of Executive Education, University of Virginia's Darden School
- David Steinberger — President and CEO, Perseus Books Group
- Deven Sharma — President, Standard & Poor's
- Eric Spiegel — President and CEO, Siemens Corporation
- Florent Perrichon — President and CEO, Cerruti
- George Appling — President and CEO, Personal Communications Devices; Former President & COO, Brightstar Corporation; founder and former CEO, Xelibri; former Chief Strategy Officer, Siemens Mobile
- Gerry Horkan — Senior Vice President of Corporate Strategy, Yahoo!
- Ghassan Hasbani — CEO STC International, Saudi Telecom Company
- Gregory Fleming — President, Morgan Stanley Investment Management; Senior Research Scholar, Yale Law School; former President and COO, Merrill Lynch
- Ivan Menezes — CEO, Diageo
- Indra Nooyi — Chairman and CEO, Pepsi
- Jim Rosenthal — CEO, Kaplan Professional
- Joanna Earl — COO, Current TV
- Joe Simon — EVP & CIO, Viacom
- Jonathan S. Bush — President, CEO, and Co-founder of athenahealth
- Jon Pundyk — CEO, Glamorise Foundations
- Jorge Espinel — Executive Vice President of Strategy and Corporate Development, News Corporation
- Josh Silverman — CEO, Skype
- Jurgen Buser — Group CFO, Thomas Cook Group
- Keith Fox — President, BusinessWeek
- Letícia Costa — Partner, Prada Assessoria; Board of Directors, Technip
- Lisa Shalett — Chief Investment Officer, Merrill Lynch; former CEO, Sanford Bernstein
- Luke M. Lambert — CEO, ASCOA - Ambulatory Surgical Centers of America
- Maarten Jager - CFO, Diageo North America
- Matthew Le Merle — Managing Partner, Fifth Era
- Mark Moran — CEO and President, MetroHealth
- Martín Redrado — President, Central Bank of Argentina
- Melanie I. Nallicheri — Senior Vice President, Corporate Development, Cell Therapies, Geron Corporation
- Michael S. Gliedman — SVP, Chief Information Officer, National Basketball Association
- Michael Wolf — former COO and President, MTV Networks and COO Activate
- Mitch Quint - CEO, Formica North America
- Nancy McKinstry — CEO, Chairman of the Executive Board, Wolters Kluwer
- Neil McArthur — Chairman and CEO, ARCADIS 
- Pascal Cagni — General Manager Europe, Apple
- Paul Idzik — former COO, Barclays PLC
- Randy Lake — Executive VP & General Manager, Sony Pictures Imageworks
- Raymond J. Lane — Chairman, Hewlett Packard; Partner, Kleiner, Perkins, Caufield & Byers; former President and COO, Oracle Corporation, Chairman of the Board of Trustees of Carnegie Mellon University
- Rhonda Germany — VP of Strategy & Business Development, Honeywell Inc.
- Richard M. Beyer — Chairman of the Board and CEO, Freescale Semiconductor
- Richard Gay — Executive VP, Strategy & Operations, MTV and VH1 Networks
- Rohit Bhagat — COO, Barclays Global Investors
- Steven Heyer — CEO, Harry & David; Director, Lazard; former CEO, Starwood Hotels; former President and COO, Coca-Cola; former President, Turner Broadcasting
- Tim Collins — Founder and Chief Executive of Ripplewood Holdings
- Todd Larsen — Executive Vice President and Group President, News & Sports Group, Time Inc.; Former President, Dow Jones & Company
- Tom Hansson — Senior VP of Strategy & Corporate Development, Sara Lee Corp.
Alumni in Politics and Public Service
- Wendy Alexander - Former Labour Party Leader and Member of the Scottish Parliament (MSP).
- Andrew Turnbull - Member, House of Lords (upper Parliament), United Kingdom (2005-); Head of British Civil Service (2002–2005)
- McKinsey & Company
- Boston Consulting Group
- Bain & Company
- Monitor Deloitte
- Booz Allen Hamilton
- Roland Berger Strategy Consultants
- A.T. Kearney
- Oliver Wyman
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