Janet Truncale selected as next EY global chair and CEO

20 November 2023 Consultancy.uk 2 min. read
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EY has announced the election of Janet Truncale as its next global chair and CEO. Taking office from July 2024, Truncale will succeed current incumbent Carmine Di Sibio.

Commenting on his successor, Di Sibio said, “Janet is an exceptional leader, with a strong foundation in serving clients across all EY’s businesses. She is a great choice to lead our organization through the next chapter of its history. I truly believe Janet will inspire EY people and partners through her strong emphasis on culture and her deep experience.”

Di Sibio was elected as EY Global Chair and CEO in 2019 and served on the EY Global Executive for the past 11 years. Under his leadership, EY has doubled its global revenues – most recently reporting income of $49.4 billion worldwide. He has also pushed the company to strengthen its commitments to ESG – appointing EY’s first Chief Sustainability Officer, and committing to be carbon negative by 2025. However, the final year of his time in office has also been characterised by a frantic failed bid to separate EY’s audit and consulting wings.

Janet Truncale selected as next EY global chair and CEO

Had the split gone ahead, Di Sibio would have helmed its spun-off consulting business. However, following a huge pushback from the firm’s global partners, he leaves his role as chair and CEO with many factions within EY still unhappy at the process.

Stepping into his shoes, Janet Truncale’s first duties as EY’s global leader will see her work to restore unity to its global partnership. She is accustomed to marshalling a large team toward shared goals, though. Currently serving as regional managing partner in the firm’s Americas financial services organisation, where she oversees a team of more than 14,000 professionals across North and South America. Meanwhile, she was also previously the managing partner for Americas FSO assurance, a role which saw her lead strategy for a team of 3,000 professionals.

Speaking on her next challenge, Truncale added, “It will truly be an honor to lead this amazing organisation. The work we do in creating opportunity for our people and clients, as well as our role in the capital markets defines EY as an organization, and I couldn’t be prouder to have the opportunity. I am inspired by the example Carmine has set, instilling an intent to be profession leaders, focusing on staying ahead of the curve in technology and most of all personifying EY values.”

She will assume the roles of CEO and global chair in July 2024. The news will see Truncale become the first woman to lead a Big Four firm on a global level – at a time of major change for the quartet. Earlier in November, PwC also announced a historic appointment in its leadership – with Mohamed Kande poised to become the first Black leader of a Big Four firm’s global entity.