Key highlights:
• Romanian executives are now leading regional and global operations, in a European executive search industry valued at EUR 4.4 billion.
• Pendl & Piswanger InterSearch Romania: over 2,000 executives recruited and a growing number of cross-border mandates in critical industries.
• The Romanian executive search market is estimated at EUR 30 million, representing 0.15% of the global market and 0.7% of the European market (EUR 4.4 billion in 2024).
On a European executive search market now exceeding EUR 4.4 billion, Romania is steadily evolving from an importer of know-how into an exporter of leadership.
Pendl & Piswanger InterSearch Romania, part of the InterSearch Worldwide global network, marks 25 years of activity, having recruited over 2,000 executives for key leadership roles.
Founded in 2000, the company was among the pioneers who professionalized top management recruitment in a market once dominated by informal recommendations and personal networks. Today, Pendl & Piswanger InterSearch Romania is one of the country’s leading providers of executive search, interim management, and leadership advisory services, with a retention rate above 85% and extensive experience across strategic sectors such as industry, energy, automotive, FMCG, pharmaceuticals, construction, financial services, agribusiness, and technology.
From expats to local leaders – and now exporting leadership
The company’s evolution mirrors that of the Romanian market itself.
If in the early 2000s multinational companies relied heavily on expat executives, today Romanian leaders are not only preferred locally but are increasingly being appointed to regional and global roles.
In this transformation, Pendl & Piswanger InterSearch Romania has acted as a bridge between Romania and the international leadership community — bringing global standards into the local market and promoting Romanian leaders to major economic centers such as Poland, Germany, the UK, the US, and Japan.
Another key trend of the past decade is the growing interest of entrepreneurial companies in executive search services. Once rare among family-owned or founder-led firms, the use of specialized executive recruitment is now common among Romanian businesses that have reached maturity and are expanding regionally. Many of these companies have achieved remarkable growth, competing head-to-head with multinationals — a reflection of the increasing professionalization of local entrepreneurship and the rise of a new generation of leaders capable of running complex, internationally governed organizations.
“Romanian executives are increasingly being called to take on key roles across Central and Western Europe, and their professionalism makes them highly sought-after in critical industries — from energy and infrastructure to automotive, technology, and FMCG. The shift from an economy importing know-how to one exporting leadership is one of the most significant transformations of the past 25 years,” said Ana Ber, Managing Partner, Pendl & Piswanger InterSearch Romania.
A EUR 4.4 billion European industry – and growing
Over the past 25 years, the executive search industry has changed dramatically.
If in 2016 the Romanian market was worth only a few million euros, it now exceeds EUR 30 million, part of a European market estimated at EUR 4.42 billion in 2024*, with projections to reach EUR 10.63 billion by 2031*.
Globally, Romania represents approximately 0.15% of the executive search market, estimated at EUR 20 billion in 2024 — a share consistent with the size of the national economy and the regional footprint of multinational companies operating locally.
The total value of Romania’s broader employment services market is estimated at EUR 701 million in 2024**, with executive search representing a small but steadily growing segment.
Across Europe, France leads the executive search market with 16.4%, followed by Russia (15.7%) and Italy (9.7%). The UK and Germany each account for around 9%, while Sweden (5.6%) continues to demonstrate the strength of the Nordic economies. Smaller markets such as Luxembourg, Spain, Switzerland, and Denmark (2–4%) show that executive search is widespread, not limited to large economies.
Notably, nearly 23% of the European market is distributed among emerging countries — underlining the significant potential of markets like Romania to become increasingly visible players in this landscape.
Romania’s rise within the European executive search ecosystem is driven by strong sectoral performance.
• Energy companies seek leaders capable of navigating the green transition and geopolitical shifts.
• In automotive and manufacturing, the focus is on digital transformation and supply chain resilience.
• In pharma and health tech, companies need leaders who can manage both strict regulation and rapid innovation.
• The construction and infrastructure sectors, fueled by major investments, demand executives with strategic vision and the ability to deliver national-impact projects.
Against this backdrop, Pendl & Piswanger InterSearch Romania has steadily expanded its expertise, from early mandates in FMCG and financial services to complex cross-border projects, collaborating with more than 90 InterSearch offices worldwide.
The new leadership agenda: geopolitics, AI, and diversity
Romania’s transformation is also shaped by global forces.
According to the EY Attractiveness Survey 2024*, 67% of investors expect Romania’s attractiveness to increase over the coming years — driven by a highly skilled workforce and a strategic position between East and West.
At the same time, executive compensation levels have become comparable to those in neighboring EU markets, signaling the country’s alignment with European standards.
“Romania has come a long way. If, in the beginning, companies relied on expats for leadership roles, today they place their trust in local executives. In parallel, more Romanian leaders are being promoted internationally — proof of their professionalism and of the market’s maturity,” adds Ana Ber.
Findings from the InterSearch Global Board Survey 2025** reveal that the leadership agenda is being redefined by geopolitical tension, AI, and diversity.
Globally, 77% of board members identify geopolitical risks as the most significant challenge, followed by AI (65%).
In Romania, these dynamics are deeply felt: proximity to the conflict in Ukraine, shifting supply chains, and ongoing geopolitical uncertainty are prompting companies to rethink strategy on a quarterly basis.
“The future of executive search will be defined by the balance between technology and humanity. AI can make processes more efficient, but final decisions remain human. Leadership is about values, culture, and vision — things no algorithm can replace,” concludes Ana Ber.
Sources:
* Verified Market Research – Europe Executive Search & Headhunting Market Report
** IBISWorld Romania – Employment Activities Industry Report
*** EY Romania Attractiveness Survey 2024
**** InterSearch Global Board Survey 2025
About Pendl & Piswanger InterSearch Romania
Pendl & Piswanger InterSearch Romania is part of the global InterSearch Worldwide network, with more than 90 offices in over 50 countries.
Founded in 2000, the company has completed over 2,000 executive search mandates, with a candidate retention rate exceeding 85% after three years.
Its portfolio covers strategic industries such as energy, automotive, industrial production, pharmaceuticals, construction, agribusiness, and technology.
Services include executive search, interim management, leadership assessment, and executive onboarding.
Pendl & Piswanger InterSearch Romania works closely with international offices on cross-border projects and contributes to global initiatives such as the InterSearch Sustainability Practice.
