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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 15, 2004
FTI CONSULTING, INC.
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(Exact Name of Registrant as Specified in Charter)
Maryland 001-14875 52-1261113
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
900 Bestgate Road, Suite 100, Annapolis, Maryland 21401
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (410) 224-8770
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Item 5. Other Events.
Retirement of President of FTI Consulting, Inc.
On March 15, 2004, Stewart J. Kahn announced that he would retire as President
of FTI Consulting, Inc. ("FTI") effective with our 2004 Annual Meeting of
Stockholders scheduled for May 19, 2004.
A copy of the Press Release announcing the retirement of Mr. Kahn, as well as
other employee promotions and changes, is filed as Exhibit 99.1 and is hereby
incorporated herein by reference.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit No. Description
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99.1 Press Release of FTI Consulting, Inc. dated March
15, 2004, announcing the retirement of Stewart J.
Kahn as President of FTI Consulting, Inc. and
other employee promotions and changes.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, FTI has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
FTI CONSULTING, INC.
Dated: March 16, 2004 By: /S/ THEODORE I. PINCUS
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Theodore I. Pincus
Executive Vice President and
Chief Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release of FTI Consulting, Inc. dated March
15, 2004, announcing the retirement of Stewart J.
Kahn as President of FTI Consulting, Inc. and
other employee promotions and changes.
Exhibit 99.1
news
FINANCIAL
RELATIONS BOARD
FOR FURTHER INFORMATION: RE: FTI Consulting, Inc.
AT FTI CONSULTING: AT FINANCIAL RELATIONS BOARD: AT THE NEIBART GROUP
Jack Dunn Lisa Schaefer Lisa Fortuna Tim Grace Emma Murphy
Chairman & CEO Media Relations Analyst Inquiries Financial Media Media Relations
(410) 224-1483 (212) 841-9364 (312) 640-6679 (312) 640-6667 (718) 875-4545
FOR IMMEDIATE RELEASE
MONDAY, MARCH 15, 2004
FTI CONSULTING ANNOUNCES MANAGEMENT CHANGES
Names Chief Risk Management Officer and Practice Leaders;
President to Step Down at Annual Meeting
ANNAPOLIS, MD, March 15, 2004--FTI Consulting, Inc. (NYSE: FCN), the premier
provider of corporate finance/restructuring, forensic accounting, litigation and
economic consulting, today announced several management changes as a result of
its recent growth and the structuring of the company subsequent to its recent
acquisitions. Effective March 31, 2004, Barry Kaufman will become Executive Vice
President and Chief Risk Management Officer. In addition, FTI announced that
Roger Carlile has been named head of the Forensic Accounting and Litigation
practice; DeLain Gray has been named head of the Corporate Finance/Restructuring
practice; and John Klick has been named head of the Economic Consulting
practice. Finally, FTI's President, Stewart Kahn, announced that he will step
down as President at the annual meeting on May 19, 2004, becoming a special
advisor to the CEO.
Barry Kaufman Named Executive Vice President and Chief Risk Management Officer
Effective March 31, Barry Kaufman will become Executive Vice President and Chief
Risk Management Officer. In this role, he will report to the CEO and have
responsibility for assessing and addressing all areas of risk and quality
assurance for the company, including those with respect to engagement acceptance
and performance, potential conflict identification and resolution, the hiring
and retention of senior personnel, and due diligence in acquisitions and
strategic planning. He will also have significant input into the areas of
performance monitoring and operating metrics.
With 30 years of experience in the consulting profession, prior to joining FTI
in 2002 as Vice President of Operations responsible for the Litigation
Consulting and Electronic Evidence
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FTI Consulting, Inc.
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practices, Mr. Kaufman was with Arthur Andersen, where he led its Washington,
D.C.-based Organizational Strategy and Enterprise Technology Group, primarily
serving the federal government. He was the Risk Management Practice Director for
complex engagements and for clients in the telecommunications, consumer products
technology and entertainment industries, and has extensive experience in both
the public and private sectors of the technology industry. Mr. Kaufman, aged 56,
is a CPA. He holds a B.A. in economics from the University of Michigan and an
MBA in Finance from Dartmouth College's Tuck School of Business.
Roger Carlile Named Head of Forensic Accounting and Litigation Consulting
Practice
Roger Carlile, based in FTI Consulting's Dallas office, has been appointed head
of the Forensic Accounting and Litigation practice, which includes the company's
legacy forensic practice, its legacy Litigation Consulting and Electronic
Evidence practices, and its two recent acquisitions: KPMG's Dispute Advisory
Services business and Ten Eyck Associates, renowned for its consulting work in
Securities and Exchange Commission investigations and securities law litigation.
The integrated practice makes FTI one of the largest providers of dispute
analysis, dispute avoidance and financial investigation services in the U.S. and
dramatically increases its scope, depth of expertise and geographic presence.
Mr. Carlile has provided a variety of professional services to clients in
various industries. He has significant experience in litigation advisory
services, including expert testimony, damages analysis, royalty rate analysis,
intellectual property valuation, royalty audits, forensic investigations,
intellectual property portfolio management, and strategy development.
Previously, Mr. Carlile was the global partner-in-charge of KPMG's Forensic
Services practice.
DeLain Gray Named Head of Corporate Finance/Restructuring Practice
FTI announced that it has appointed DeLain Gray head of the Corporate
Finance/Restructuring practice. FTI Consulting is one of the leading providers
of turnaround, performance improvement, financial and operational restructuring
services in the marketplace. The Corporate Finance/Restructuring practice also
provides interim management, investment banking and transaction advisory
services through its dedicated product teams.
Mr. Gray has over 24 years of experience and has participated in a significant
number of bankruptcy consulting and out-of-court restructuring engagements. He
joined FTI through the company's 2002 acquisition of PricewaterhouseCoopers'
U.S.-based restructuring practice. He has extensive experience representing both
creditors and debtors in formal bankruptcy and out-of-court restructurings in a
wide variety of industries, with notable experience in retailing, textile
manufacturing and healthcare, among others. Mr. Gray was previously the
co-leader of the Corporate Finance/Restructuring practice and is based in FTI's
Washington, D.C., office.
John Klick Named Head of Economic Consulting Practice
John Klick has been appointed head of FTI's Economic Consulting practice. His
responsibilities include the coordination of the company's recent acquisition of
Lexecon with FTI's existing economic consulting offerings. Lexecon is one of the
leading economic consulting firms in the U.S., with services falling into three
broad areas: litigation support, public policy studies and business consulting.
Particular areas of expertise for the Economic Consulting practice include
telecommunications, electricity, railways, utilities, oil, natural gas,
petroleum, deregulation,
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valuation, securities, risk management, damages and antitrust issues.
With 30 years of experience, Mr. Klick has provided expert testimony in cases
involving economic damages, the public and private benefits of proposed mergers
and acquisitions, the marginal, incremental and stand-alone costs of services
provided by regulated network industries, and the pricing of access to network
facilities. Mr. Klick has in-depth experience in a number of industrial sectors
including telecommunications, energy, and transportation. Mr. Klick joined FTI
in 1998.
Stewart J. Kahn to Step Down as President of FTI and Assume Role of Advisor to
CEO
Mr. Kahn has announced that he intends to retire as president of FTI, effective
at the company's annual meeting on May 19, 2004. He joined FTI in September
1998, becoming president in December of that year. Over the last five years, he
has presided over FTI's development into a world-class financial consulting firm
and has been a huge contributor to its growth and profitability during that
period. Upon stepping down, he has agreed to serve FTI as special advisor to the
CEO for the next three years, providing input on general corporate matters on a
part-time basis. FTI has no present plans to fill the office of President.
In commenting on these changes, Jack Dunn, FTI's Chairman and Chief Executive
Officer, said "FTI is a results-driven organization, dedicated to finding the
path that leads clients to the best outcome. The management changes announced
today underscore our continued commitment to that course and to achieving
quality, transparency and accountability in everything we do. The addition of
Barry Kaufman to the Executive Management Team, along with the recent promotion
of Dom DiNapoli to the office of Chief Operating Officer, are evidence of that
commitment in the executive suite. At the same time, Roger, DeLain, and John
have played significant roles in getting us to where we are today, and will play
critical roles in FTI's future. They have the know-how to capitalize on the
synergies that arise through the integration of our combined practices and have
exuded a team spirit and sense of `ownership' in FTI. Stu and Dom join me in
congratulating Barry, Roger, DeLain and John on today's announcement and we look
forward to working with them in continuing to execute the mission statement for
FTI."
About FTI Consulting
FTI is the premier provider of corporate finance/restructuring, forensic
accounting and litigation consulting, and economic consulting. Strategically
located in 24 of the major US cities and London, it employs over 1,000
professionals consisting of numerous PhDs, MBAs, CPAs, CIRAs and CFEs who are
committed to delivering the highest level of service to our clients. These
clients include the world's largest corporations, financial institutions and law
firms in matters involving financial and operational improvement and major
litigation.
FTI is on the Internet at www.fticonsulting.com
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