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November 21, 2011

E&Y CEO Jim Turley to step down

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.

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