September 29, 2022
Categories: Press Release,
Following a competitive RFP process, Korn Ferry was selected as PIDC’s executive search firm for its ability to garner a diverse pipeline of executive candidates to fill the role of PIDC president.
PHILADELPHIA (September 16, 2022) – Today, PIDC announced the selection of global organizational consulting firm, Korn Ferry (NYSE: KFY), to lead in the recruiting and selection process to hire PIDC’s next president. PIDC is Philadelphia’s official economic development corporation, founded by the City and Chamber of Commerce more than 60 years ago with the mission to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods, and drive inclusive growth to every corner of Philadelphia.
This announcement comes after Mayor Jim Kenney and former Chamber of Commerce for Greater Philadelphia President and CEO Rob Wonderling announced in June 2022 that Anne Bovaird Nevins, long-time senior leader and president of PIDC, will be transitioning after nearly 16 years with the organization by the end of this year. Having joined PIDC in 2007, Nevins was appointed President in January 2020 and was integral to the efforts to respond to the pandemic, restart the economic momentum of our city, and position Philadelphia to recharge and reimagine the city’s economic future.
The Board of Directors of PIDC initiated a Request for Proposals (RFP) process this summer to identify an executive search firm to assist and facilitate the recruitment process for a president. The Selection Committee of PIDC’s Board of Directors includes a diverse group of leaders and is chaired by PIDC Board Chair Sal Patti of WSFS Bank. Additional members include: Andrea Allon, PIDC Board vice chair and chief operating officer of the Chamber of Commerce for Greater Philadelphia; Craig Carnaroli, senior executive vice president of the University of Pennsylvania; Diana Cortes, City solicitor for the City of Philadelphia; Anne Fadullon, City of Philadelphia director of planning and development; Juan Lopez, chief financial officer of Independence Blue Cross; Suzanne Mayes, partner at Cozen O’Connor; Anne Nadol, City of Philadelphia director of commerce; and Bret Perkins, senior vice president of external and government affairs of Comcast Corporation.
“The selection committee followed a thorough process and we are happy to move forward in the executive search process with the help of Korn Ferry,” said Sal Patti, senior vice president at WSFS Bank, chair of the PIDC Board of Directors, and head of the Board’s search committee. “We feel confident in the strategic direction of this process, and we look forward to seamlessly continuing PIDC’s important leadership role in equitable economic recovery for Philadelphia during this transition.”
During the executive search firm selection process, the Board of Directors prioritized the aspirations of PIDC’s new Strategic Framework and Theory of Change which drives PIDC’s vision for a more inclusive, equitable, and sustainable Philadelphia where all residents benefit from economic development and a growing global economy. PIDC’s Theory of Change shines a light on three intersecting lenses – racial equity, future of work, and resilience and sustainability – to highlight the complexity of PIDC’s challenges and opportunities, the need for multi-disciplinary approaches to economic development, and to promote systemic change.
Approximately 20 national, regional, and local executive search firms were invited to apply through a competitive RFP process and 10 high-quality proposals were submitted. Following a thorough review of all proposals, the selection committee of the Board of Directors of PIDC chose four executive search firms to advance to the final interview stage. Following a rigorous interview process with the selection committee, Korn Ferry was selected given their extensive experience placing diverse candidates in leadership roles at public-private economic development agencies similar to PIDC. Also, Korn Ferry demonstrated its ability to garner a diverse pipeline of executive candidates on a regional and national scale.
With the selection of Korn Ferry, PIDC will move forward with the selection process of hiring a new president.
Korn Ferry is a global organizational consulting firm that works with clients to design optimal organization structures, roles, and responsibilities. Korn Ferry helps companies hire the right people and advise them on how to reward and motivate their workforce while developing professionals as they navigate and advance their careers.
PIDC is Philadelphia’s city-wide, public-private economic development corporation. A non-profit founded in 1958 as a partnership of the City of Philadelphia and the Greater Philadelphia Chamber of Commerce, PIDC’s mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia. Over the past 64 years, PIDC has settled over 13,000 transactions with a diverse range of clients – including more than $18.5 billion of financing and 3,350 acres of land sales – which have leveraged tens of billions of dollars in total investment and assisted in retaining and creating hundreds of thousands of jobs in Philadelphia.