Managing Director, Investor Relations and Communications
Dear Fellow Stockholders,
2015 was a pivotal year — a year where the progress made by our teams in changing our trajectory became visible in powerful ways.
We rebuilt our pipeline of talent, improving our leverage ratios and growing net headcount, excluding divestitures, by seven percent this year. The overwhelming majority of the growth, 98 percent, came from below the Senior Managing Director level. We focused the headcount growth and management attention on core areas where there is deep client need and where we see ourselves as having a right to win. We also began to identify adjacencies where our clients would benefit by our expansion. We streamlined operations where we don’t have a right to win. And we invested in our people, to allow them to develop into even more powerful professionals for our clients and our business.
We have a long way to go to fully meet our aspirations, but it is clear that these efforts are moving us in the right direction. Excluding the impact of foreign currency translation, our organic revenue growth of 10 percent cumulatively over the past two years was the best two-year organic growth rate we have achieved in more than half a decade. And notwithstanding ups and downs in some areas of the business, on a percentage basis we had the largest gain in adjusted earnings per share that this company has had since 2009.
In 2016, we will continue to drive a multiplicity of change efforts. For example, we are going to focus our energy and headcount growth where we have a right to win. We will advance our commercial excellence efforts to strengthen our positions and relationships. We will use our cash and EBITDA investments in ways that we believe will enhance stockholder returns.
As always, we will invest behind the passion and capabilities of our core client service professionals in the ways they believe will best deliver value to our clients. We will do this with the objective of turning FTI Consulting into a company with sustained growth and earnings potential — a company that is both fabulous for professionals to work for and a great company for its clients and stockholders.
There is still much work to do, but we are on our way. I look forward to continuing this journey together.
Steven H. Gunby
President & Chief Executive Officer
of FTI Consulting, Inc.