Sacha Romanovitch, CEO of Grant Thornton UK (GT UK), is to stand down as CEO.

A successor will be elected by the end of the year.

Romanovitch’s leadership has recently come into question after her internal appraisal was leaked to a number of UK national papers. According to the leak, Romanovitch had been accused of leading a ‘socialist agenda.’

Romanovitch first took over GT UK in June 2015, following her election at the end of 2014. She had been due to stand for a second term in the coming weeks. This is no longer the case.

The outgoing CEO said: “It has been a privilege and an honour to lead this firm. I am proud of what we have achieved in the market, with our people and with our clients, breaking the mould in so many ways. We have attracted so many talented people and great clients to our firm due to our purpose and what we stand for.

“As we enter the next phase of our plans, following discussions with Grant Thornton’s Board, we have agreed that the time is right for a new CEO to take the firm forward. I will be working to support a smooth transition to our next CEO, focusing on continuing to deliver sustainable value for our clients through our diverse and talented team.”

Ed Warner, Chair of the Partnership Oversight Board at Grant Thornton UK said: “In Sacha’s four years leading Grant Thornton her focus has enabled the Firm to establish a distinctive position in the market. She has been an inspiring CEO attracting great people to our Firm and what we stand for. Crucially, Sacha has established a platform which will drive sustainable and profitable growth.”

“Following discussions with Sacha, the Board has agreed that a new CEO is the logical next step to create long term sustainable profits for the Firm. We are grateful for the innovative and inspiring work Sacha has done and will work with her to support the newly elected CEO and ensure a smooth transition.”