Grant Thornton LLP, the US member firm of Grant Thornton International, has announced that Chief Executive Officer Mike McGuire will assume the role of CEO emeritus, effective 1 August 2019.The Partnership Board will continue the previously announced long-term CEO succession process that is currently underway with an executive consulting firm.

The firm will be led by Bradley J. Preber who has been with the firm since 2003. He will serve as interim CEO-elect, effective immediately, working closely with McGuire and other members of the senior leadership team until formally accepting the position of interim CEO on 1 August. Preber is currently the chairman of the Partnership Board and national managing partner of Business Risk Services for the firm. He also serves as the Phoenix office managing partner. Preber will temporarily step aside from these roles while he serves as interim CEO.

McGuire, who has been CEO of Grant Thornton LLP since January 2015, said: “I believe we now need to transition as quickly as possible to new leadership that can take us on the next leg of our journey to become the ‘firm of the future’ over the next five years or more. I will do everything in my power in the coming years to help the firm navigate this transition and continue to succeed.”