EY’s global chairman and CEO Mark Weinberger is to step down on 1 July 2019, the start of the network’s FY 2020, after six years in the role.
During Weinberger’s six years at the helm, EY’s annual compound growth rate was 8.5% and made 120 acquisitions to develop the network’s offerings in areas such as cybersecurity, AI and data. Recently, it acquired Adelphi Digital Consulting Group, based in Australia and Singapore, to expand its presence in Asia Pacific.
Weinberger pushed for increasing diversity within the network to create a more inclusive culture. On the global executive, the highest governing body in EY, the percentage of women increased to more than 26% and included more representation from the emerging market and early stage partners. In FY18, nearly 30% of the partner class consisted of women.
Weinberger served on the EY global executive for the past 10 years and on the Americas executive board for five years prior to that.
Weinberger said: “When I reflected on the massive changes we have navigated over the last seven years and the strong position we command to enable EY to excel in the years ahead, I realised that the time is right for me to step aside.
“I know there is an even brighter future for EY and I'm excited to see what will be shepherded in by the next generation of exceptional EY leaders. I have great confidence in the extraordinary talent that extends across our organisation. I'm thankful for the opportunity to have served EY clients and people around the world.”
“I am sincerely grateful to each and every one of the 270,000 EY people and countless alumni around the world; the success of EY has always come down to EY people. Individually and collectively we have driven EY's accomplishments.”
EY expects to appoint a new EY global chairman and CEO in January to allow for a six month transition.
