Ernst & Young (E&Y) global chairman and chief executive
James Turley is to step down in 2013.

Turley informed E&Y partners on 10 November he would step
down and make way for fresh leadership in line with a new long-term
strategy.

Turley has helped lead E&Y through one of the most turbulent
periods for the global accounting industry, which suffered
widespread revenue contractions in fiscal 2009/2010.

E&Y has also been embroiled in the Lehman Brothers fall out
as former auditors, which has been a testing time for the global
firm.

E&Y said Turley would retire when he is 58 on 30 June
2013.

“The succession process to decide a new Chairman and CEO-elect
is now underway and will conclude in early 2012, no later than
April,” E&Y stated.