HireQuest, a global franchisor of staffing and executive search solutions, announced a significant change in the ownership structure of its executive search brand, MRINetwork. As of December 1, 2025, the majority ownership has transitioned to a newly formed leadership group composed of current and former MRINetwork franchise owners. HireQuest will maintain partial ownership and continue to provide crucial support through infrastructure, purchasing power, and shared services.
The newly established leadership group includes prominent figures such as Todd Govig from Govig & Associates, Mark Angott of Angott Search Group, Mike Brown from Harrison Group, and Shana Applebaum, who has been named Managing Director of MRINetwork. Applebaum, currently the Managing Partner and Chief Revenue Officer of Northbound Executive Search, will spearhead a strategic reset of MRINetwork, focusing on growth, client partnerships, and the integration of the global network into an efficient organization.
Rick Hermanns, CEO of HireQuest, expressed enthusiasm about the transition, stating, “This is a tremendous moment for MRINetwork. By aligning the brand’s leadership with experienced franchise owner-operators, we ensure the network is guided by those who live its mission each day.” Hermanns emphasized that Applebaum’s track record in driving growth positions her as the ideal leader for this new chapter.
Applebaum shared her vision for MRINetwork, stating, “I am honored to step into the role of Managing Director at MRINetwork. Alongside our new leadership team, we will leverage our deep recruiting expertise, strengthen best-practice processes, and build a network that is more connected and primed for growth.” She highlighted the importance of collaboration and trust in elevating MRINetwork’s offerings.
Why the Ownership Change is Significant
The decision to place franchise owners at the helm marks a strategic shift that prioritizes hands-on experience in recruiting and franchising. This new ownership team is expected to shape the network’s strategy, operational practices, and client service excellence.
By retaining partial ownership, HireQuest ensures continuity in shared services, providing national purchasing power, integrated staffing and recruiting solutions, and technological infrastructure. This arrangement aims to streamline operations and enhance the overall client experience.
Current MRINetwork offices stand to gain from this alignment, benefiting from both entrepreneurial leadership and the support of a larger staffing organization. This dual approach is designed to strengthen the network’s market position and growth potential, making it more attractive to prospective franchisees.
Industry Context and Future Outlook
Despite challenges facing parts of the executive search market, there are emerging signs of renewed activity. Major firms in the executive recruiting sector are experiencing positive revenue impacts, driven by demographic shifts and high executive turnover rates. These trends underscore the potential for a well-positioned network like MRINetwork to capitalize on growth opportunities.
The transaction is expected to close within the next few weeks, pending customary closing conditions. Following the completion, the new leadership group will work with HireQuest to implement an enhanced service model and strategic initiatives across the network, set to begin in the first quarter of 2026.
Founded in 1965, MRINetwork has established itself as a leader in the search and recruitment industry, offering a full range of talent advisory solutions through its global offices. As a division of HireQuest, MRINetwork combines industry insights with a broad reach to deliver talent that drives meaningful organizational change.
This ownership transition marks an important milestone in MRINetwork’s evolution, aligning its leadership with those who have firsthand experience in the franchise model and are committed to its success.
