Booz & Company
||This article appears to be written like an advertisement. (June 2013)|
|Founded||1914, by Edwin Booz|
|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)
Joe Saddi (Chairman)
|Revenue||$1.3+ billion (2011)|
Booz & Company is a global management consulting firm established in the United States in 1914. The firm is active in a broad range of sectors, including Energy, Healthcare, Financial Services, Chemicals, Telecommunications, Automotive, Aerospace, Media, Technology and 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 Booz & Company 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 in the aftermath of the passage of the Patient Protection & Affordable Care Act.
On October 30, 2013, it was announced that global assurance and management consulting firm PricewaterhouseCoopers will 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.
- 1 History
- 2 Recent M&A
- 3 Notable contributions
- 4 Prominent assignments
- 5 Offices
- 6 Competitors
- 7 Recruiting
- 8 Notable companies founded by current and former employees
- 9 Staff & Alumni
- 10 See also
- 11 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 a conditional merger with PricewaterhouseCoopers 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 is expected to be completed within Q1 of 2014.
Over the years, Booz has 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 Booz & Company as first in foresight because of "the consistently interesting and topical writing in strategy+business".
The Katzenbach Center at Booz & Company 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, Booz & Company Partner Jon Katzenbach uses various case studies to illustrate the exchange between the formal and the informal elements of organizations.
Booz & Company has 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 Booz assignments.
Australia, New Zealand & South East Asia
Booz & Company has three 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) and Bain & Company (Bain).
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. Booz & Co. is the second largest recruiter at Columbia Business School, and the fourth largest recruiter at Harvard Business School. In Europe, Booz & Company is the third largest recruiter at London Business School 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
Booz 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
- Booz Allen Hamilton
- Roland Berger Strategy Consultants
- A.T. Kearney
- Oliver Wyman
- "ConsultingMag.com". ConsultingMag.com. Retrieved 2011-06-15.
- "Carlyle to Swallow Booz Unit". CFO.com. 2008-05-16.
- INSEADofficial (2010-06-28). "ILSE: Joe Saddi, Chairman, Booz & Co". YouTube. Retrieved 2011-06-15.
- "PwC to bulk up with planned Booz & Company". ft.com. 2013-10-30.
- "Booz Allen History". Boozallen.com. Retrieved 2011-06-15.
- "JRANK Booz Allen Hamilton History". Companies.jrank.org. Retrieved 2011-06-15.
- "Booz, Allen & Hamilton, Inc. - Lehman Brothers Collection". Library.hbs.edu. Retrieved 2011-06-15.
- Boye, Will (2011-10-26). "Booz Allen expanding in Charlotte". bizjournals.com.
- Dvorak, Phred (23 April 2009). "Booz to Buy Katzenbach Partners". The Wall Street Journal.
- Kashmir, Margaret (11 December 2012). "Axon Advisory Partners Joins Booz & Company to Launch Booz Digital". Yahoo! Finance.
- Kashmir, Margaret (3 April 2012). "Booz & Company Closes Acquisition of Management Engineers". Yahoo! Finance.
- Marcinek, Laura and Greg Farrell (30 October 2013). "PwC Agrees to Purchase Booz to Expand Advisory Services". Bloomberg. Retrieved 3 November 2013.
- Goldfarb, Zachary A. (4 February 2008). "Should This Marriage Be Saved?". The Washington Post. Retrieved 26 April 2010.
- "How Booz & Company Develops and Markets Consulting Concepts". The Bloom Group. Retrieved 2011-06-15.
- "Leading Outside the Lines". Leading Outside the Lines. Retrieved 2011-06-15.
- "History". Booz.com. Retrieved 2011-06-15.
- Selling Professional Services to the ... - Google Books. Books.google.com. 2010-01-20. Retrieved 2011-06-15.
- "100 Best Companies to Work For 2008: Booz Allen Hamilton snapshot". CNN. Retrieved 26 April 2010.
- "Columbia University: Full-Time MBA Profile". BusinessWeek. Retrieved 2011-06-15.
- "Top Feeder Companies to Harvard Business School". Harvard Business School. Retrieved 2011-10-27.
- [dead link]
- "Insead: Full-Time MBA Profile". BusinessWeek. Retrieved 2011-06-15.
- "http://www.booz.com/global/home/who_we_are/leadership/40832353/jon_katzenbach". Booz.com. Retrieved 2011-06-15.
- "http://www.booz.com/global/home/who_we_are/leadership/40832353/kenneth_kurtzman". Booz.com. Retrieved 2011-06-15.
- Rice Alliance (2011-05-18). "Rice Alliance - External Advisory Board". Alliance.rice.edu. Retrieved 2011-06-15.
- "http://www.booz.com/me/home/what_we_think/40007409/40007869/45109479". Booz.com. Retrieved 2011-06-15.
- 05/10/10 (2010-03-31). "Fidelity Investments". Fidelity.com. Retrieved 2011-06-15.
- "ConsultingMag.com". ConsultingMag.com. Retrieved 2011-06-15.
- "Andrew Stern Appointed Chief Executive Officer of SunGard Availability Services". Sungard.com. 2010-06-09. Retrieved 2011-06-15.
- "IMS Health Names Ari Bousbib Chief Executive Officer; David R. Carlucci to Remain Chairman - News Press Release". PharmiWeb.com. Retrieved 2011-06-15.
- Bill Jackson (2011-05-09). "Bill Jackson: Executive Profile & Biography - BusinessWeek". Investing.businessweek.com. Retrieved 2011-06-15.
- Robin Wauters May 23, 2011 (2011-05-23). "Former Netflix CFO Barry McCarthy Joins Eventbrite’s Board Of Directors". Techcrunch.com. Retrieved 2011-06-15.
- "Johnson Controls Names Bill Jackson Executive Vice President, Operations and Innovation - MILWAUKEE, May 9, 2011 /PRNewswire/". Wisconsin: Prnewswire.com. Retrieved 2011-06-15.
- Lowry, Tom (19 January 2011). "Bob Bakish upped to new int'l role at Viacom". Variety.
- "Corporate Press Releases, HarperCollins Publishers". Harpercollins.com. Retrieved 2011-06-15.
- Charles L. Teschner Jr. "Charles Teschner: Executive Profile & Biography - BusinessWeek". Investing.businessweek.com. Retrieved 2011-06-15.
- "Evraz NA appoints Mr Winkler as EVP Long Products - 204914 - 2011-05-13". Steel Guru. 2011-05-13. Retrieved 2011-06-15.
- David Nesmith, "PCD Announces New President and CEO", Personal Communications Devices press room, 09/04/2012
- "BRIGHTSTAR APPOINTS GEORGE APPLING AS CHIEF OPERATING OFFICER | Press Releases | News Room | Brightstar". Brightstarcorp.com. 2006-07-05. Retrieved 2011-06-15.
- Fletcher, Clementine (2013-05-07). "Diageo CEO Walsh Hands Over to Menezes After 13 Years at Top". Bloomberg.
- "Music Conservatory Announces 3 New Trustees". Westchester.com. 2011-05-22. Retrieved 2011-06-15.
- "Insurance News - Technip’s Board of Directors Expands to Become More Diversified, International and Feminine". Insurancenewsnet.com. 2011-04-28. Retrieved 2011-06-15.
- Kurtz, Rob (2011-05-20). "29 Great Presidents and CEOs in the Surgery Center Industry". Beckersasc.com. Retrieved 2011-06-15.
- "Announces the Appointment of Melanie Nallicheri as Senior Vice President of Corporate Development for Cell Therapies | News releases". Geron. Retrieved 2011-06-15.
- "Arcadis Ceo Harrie Noy Steps Down; Neil Mcarthur Succeeds Him". Reuters. 2012-01-30.
- Jennifer Saba, "Former Dow Jones president Todd Larsen lands at Time Inc", Reuters, 09/05/2012