Accounting
Future Uncertain for Deloitte CEO Engelbert
While Engelbert is eligible for another term at the helm of the firm, and could be renominated for the position, this likely means that Deloitte will appoint a new CEO during a leadership election in 2019.
Jul. 30, 2018
When Cathy Engelbert became the first female CEO of a Big 4 accounting firm in 2015, the 30-year veteran accounting professional was lauded for her leadership and foresight.
Now, her future as CEO of Deloitte is in question, as the firm’s board of directors has failed to renominate Engelbert for a second term. The board did not provide an explanation, according to The Wall Street Journal, which has further coverage of the firm’s CEO election process.
During her tenure as CEO, Deloitte has seen an increase in revenue of almost 6% year-over-year, reporting $18.6 billion in 2017.
Engelbert is eligible for another term at the helm of the firm, and could be renominated for the position, this likely means that Deloitte will appoint a new CEO during a leadership election in 2019.
The Journal reports that many Deloitte partners and staff were surprised by the decision, and dozens of partners signed a letter to the board asking for additional transparency on the decision.
Read more at The Wall Street Journal.