Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Garner enters JV with Russam GMS to set up executive consultancy

Garner (LON:GAR) has signed a joint venture agreement with Russam GMS forming NB: Board Interim, which will operate in the financial services, public sector and healthcare, engineering, manufacturing and construction, technology and telecoms and media sectors.

NB: Board Interim will combine Norman Broadbent's experience with PLC and operating board level appointments and Russam GMS's Interim Management skills to create a new provider of interim board executives. The joint venture will initially focus on capitalising on Norman Broadbent's experience through their Executive Search business.

Garner said that boards frequently required “short-term injection of strategic advice from greatly experienced board directors” to help them battle the effect of the economic downturn.

“Today's economy is a perfect launch pad for the consulting input of board interims which are capable of having an immediate impact on a company in transition...with the necessary infrastructure, we will be able to start work immediately to maximise the opportunities in this niche market place,” said Garner chairman Andrew Garner.

Under the terms of the agreement, Norman Broadbent and Russam GMS will be equal partners in the JV. NB: Board Interim will commence trading on 1 July 2010.

Shares in Garner jumped 7% on the news.