EY has elected Carmine Di Sibio as its next global chairman and CEO, effective 1 July 2019, succeeding Mark Weinberger.

Di Sibio is currently serving as EY global managing partner, client service, which he has held since 2013. In this role, he has overall responsibility for the four geographical EY areas and four service lines.

He has also been involved with the management of EY’s investment in new technology. In August 2018, EY said it plans to invest $1bn on new tech over the next two years.

Di Sibio, who joined EY in 1985, co-chairs the EY Global Diversity and Inclusiveness Steering Committee which works to develop different opinions, perspectives and cultural references within the organisation.

Weinberger said: “Carmine is an outstanding and inclusive leader who has a foundation in audit and in serving the largest EY clients. He is a leader who understands the importance of diverse and inclusive teams, and he knows how to engage people to reach their full potential. I believe the organisation has made an exceptional choice, and Carmine is the right EY Global Chairman and CEO in these transformative times.”

Di Sibio said: “I am honoured to be chosen to lead this great organisation, which I have been part of for over 33 years. The role we play in the capital markets and the work each and every one of the 270,000 EY people do every day to create a better working world are things of which I’m very proud.

“It’s been a great opportunity to work with Mark and the leadership team on the development and execution of our Vision 2020 strategy over the past six years. I’m excited to build on the significant legacy and strong foundation we have here at EY.”

In September, EY announced global revenues of $34.8bn for the year end 30 June 2018, an 11% increase in USD.