- After 21 years in the position
- Praise and thanks for Beiser
- Scott Adelson taking over
- Beiser will remain as Co-Chairman at Houlihan Lokey
- Beiser said 124 words
(exechange) — Los Angeles, California, March 4, 2024 — Scott Beiser, chief executive of Houlihan Lokey, leaves his position. As announced by Houlihan Lokey Inc. in a news release and in a regulatory filing published on Monday, March 4, 2024, Scott L. Beiser leaves his post as chief executive officer at the investment bank, after 21 years in the role, effective June 10, 2024.
It is the end of an era.
Scott Beiser’s duties as CEO will be taken over by Scott Adelson, currently Co-President and Global Co-Head of Corporate Finance at Houlihan Lokey Inc.
Scott Beiser’s move coincides with a management shake-up also involving the positions of Co-President; and Co-Chairman.
No reason given
In the announcement, Houlihan Lokey did not explicitly explain the reason for the move.
Beiser will remain as Co-Chairman at Houlihan Lokey
Houlihan Lokey stated: “Mr. Beiser will remain an executive officer of the firm as a Co-Chairman of Houlihan Lokey.”
“Step down”
Houlihan Lokey said: “Scott Beiser will step down as Chief Executive Officer, a role he has held since 2003.”
Share price increase since March 2019
The announcement follows an increase in Houlihan Lokey Inc.’s share price of 172% since March 2019.
In the position of CEO since 2003
Scott Beiser became CEO of the Company in 2003.
Scott L. Beiser has served as the Company’s Chief Executive Officer since 2003 and on the Company’s board of directors since 1991.
His responsibilities include managing Houlihan Lokey’s operations in conjunction with the other three members of the Office of the Executives, identifying and developing new strategic opportunities, and pursuing and managing new and existing client relationships.
Beiser previously led Houlihan Lokey’s Infrastructure Services and Materials practice and has specialized expertise in investment banking services for engineering and construction businesses, including ownership and management transition programs, corporate acquisitions, divestitures, leveraged recapitalizations, and ESOP transactions.
Beiser earned both a B.S. and an M.S. in Finance from the College of Business and Economics at California State University, Northridge.
Beiser was chosen to be on the Company’s board of directors because of his leadership in the Company’s development and growth, and his particular knowledge and experience in strategic planning and leadership of complex organizations.
Beiser has been with Houlihan Lokey for more than 39 years.
124 words by Scott Beiser
In the release announcing his departure as CEO of Houlihan Lokey Inc., Scott Beiser received praise and thanks.
In announcing his departure, Scott Beiser said 124 words.
“My longtime partner Scott”
Scott Beiser stated: “Leading Houlihan Lokey for the past two decades, and working alongside my talented and dedicated partners, has been one of the most gratifying experiences of my career. I am extraordinarily proud of the firm we have built, from a small valuation firm to one of the largest and most successful independent investment banks in financial services. I’m delighted to hand the reins to my longtime partner Scott, who has been instrumental in the firm’s overall success and has built the firm’s Corporate Finance business into the market leader it is today. I have no doubt that Houlihan Lokey will continue to grow and thrive under Scott’s leadership and we will continue to deliver our clients the superior outcomes on which the firm prides itself.”
The above text is an excerpt from the exechange report 11.2024 ($), publication date March 11, 2024.