Heidrick names new chief operating officer for online arm

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Hyman was chief executive and founder of Cruel World, one of the first companies dedicated to mid-level internet recruiting, in 1996. It was known then as Career Central Corporation and was acquired last year by rival global search firm Spencer Stuart.

&quotJeff's impressive background speaks for itself. He developed and led Cruel World from a business concept to one of the most recognised 'e-cruiting' organisations with a customer base of more than 1,000 corporate recruiters and a candidate base of more than 275,000,&quot said James Quandt, president and chief executive officer of LeadersOnline.

The online arm is continuing to focus on becoming profitable, and at $1.8m (€2.0m) its fourth-quarter pre-tax loss is described by Heidrick & Struggles as &quotsignificantly lower&quot than the $2.7m adjusted pre-tax loss in the 2000 third quarter. It expects LeadersOnline to break even no later than the third quarter this year.