Heidrick & Struggles' Long-Standing European-Wide Corporate Governance Report,
First Published in 1999, Calls for a New Spirit of Agile and Responsive
Governance Rooted in Board Leadership

LONDON, 2014-02-13 10:00 CET (GLOBE NEWSWIRE) --
Governance must undergo a shift from box-ticking compliance to a leadership
imperative that is capable of enabling and empowering business performance,
concludes the latest European Corporate Governance report from global
leadership firm Heidrick & Struggles International, Inc. (Nasdaq:HSII).

Towards Dynamic Governance 2014 sets out a new charter for governance based on
the firm's work with high-performing boards and the proprietary biennial
research on European board behaviours which it has undertaken for the past 15
years.

Will Moynahan, Managing Partner in the Board Practice said: "The demand for
dynamic governance is based on two realisations. First, leadership starts at
the board level. Second, governance is a means of enabling and driving business
performance. All things being equal, well-governed companies excel." He
continued: "The best companies do not wait to be governed, they shape the
debate and set best practice with agile and responsive leadership that adapts
quickly to the changing circumstances of business."

Heidrick & Struggles has identified six key characteristics that define a new
era of dynamic governance:

Deep Business Knowledge – It is critical that board members understand the
commercial DNA of the company and that chairmen and boards possess deep
insights into the business. The report reveals that one in five boards in
Europe still combine the role of CEO and Chairman, holding management to
account becomes a challenge in such circumstances.

Diversity of Thought – Boards need to contain a range of personalities,
characters, skills and backgrounds if they are to function successfully.
Encouragingly,boards are becoming more international in their mix with
non-national directors making up 30% of the director pool in Europe. Yet,
female representation is still lacking -- Europe's worst performers are Poland
and Portugal with 40% and 30% respectively of company boards without any female
directors.

Engaged Leadership – The best chairmen work hard on team dynamics; this
requires a sophisticated understanding of people. A total of 93% of survey
respondents identified the leadership styles of the Chairman as an important
contributor to board effectiveness. Of particular concern however, only 76% of
respondents thought their own Chairman was doing a satisfactory job in this
respect.

Strategic alignment and execution – Boards must use their knowledge and
experience to help executives develop robust and sustainable strategies. Given
the length of service, with one in five directors on European boards being in
the role for more than nine years, it is crucial that board experience is kept
current.

Capacity to adapt – Boards must do more to create the conditions within which
innovation and adaptation can thrive.While80% of respondents agree that
innovation and adaptability are important, only 63% felt the performance of
their own boards was satisfactory in this area.

Leadership talent – Talented people lie at the heart of dynamic governance and
drive the boardroom's transformation agenda. Fully 92% of respondents agree
that top talent performance and engagement in succession planning are important
yet only 55% believe it is being satisfactorily delivered by their board.

Notes to Editors:

Towards Dynamic Governance 2014 analysed the board composition and habits of
Europe's top 400 publicly listed companies -- the six elements of dynamic
governance were then used to construct a board effectiveness survey, completed
by 236 senior board members across Europe.

Towards Dynamic Governance 2014 is available to download from www.heidrick.com

About Heidrick & Struggles International, Inc.

Heidrick & Struggles International, Inc. (Nasdaq:HSII) is the premier provider
of senior-level Executive Search, Culture Shaping and Leadership Consulting
services. For 60 years, we have focused on quality service and built strong
leadership teams through our relationships with clients and individuals
worldwide. Today, Heidrick & Struggles' leadership experts operate from
principal business centers in North America, Latin America, Europe and Asia
Pacific. For more information about Heidrick & Struggles, please visit
www.heidrick.com.

Narda Shirley
Gong Communications
[email protected]
+44 (0) 7770 888 318

Lia Randazzo
Heidrick & Struggles
[email protected]
1 (312) 496 1788