Firm Management
Baker Newman Noyes Will Be Led By a Board of Directors Starting in 2025
The two-person leadership team will be responsible for the overall vision and strategy of the Maine-based top 100 accounting firm.
Aug. 14, 2024
Top 100 accounting firm Baker Newman Noyes (BNN) will adopt a new leadership structure in 2025 following the retirement of Managing Principal Dayton Benway at the end of this year.
Starting on Jan. 1, Portland, ME-based BNN will be led by a board of directors responsible for overall vision and strategy. Andrew Smith, who currently is a tax principal and director of tax services, will serve as chairperson of the board and be responsible for board leadership and facilitation, as well as internal and external firm communications. Day-to-day leadership and firm business will be managed through the new role of president, with current CFO and Chief Risk Officer Darren Hurlburt appointed to this position.
The managing principal role will be fully retired from BNN’s leadership structure, the firm said.
“I am excited at the direction the firm has chosen for the leadership group,” said Benway, who previously led and served in the firm’s healthcare consulting practice starting in 2000 before being named managing principal in 2019. “I have tremendous confidence in Andy and Darren to step into these new roles and help lead the firm along with the full board. During my six years as managing principal, our strong team of professionals has grown strategically, learned how to work differently, and developed new and innovative ways to provide value and build trust with each other, our clients, and our communities. This transition represents a continued alignment with where our firm is today and how we can best support the BNN of tomorrow.”
Hurlburt returned to BNN in 2018 as CFO, having previously been a member of the audit department when the firm was founded in 1995. He will continue to lead the finance function in addition to his responsibilities as president. Hurlburt said he will focus on guiding strategy through a business-focused, operational approach.
“On behalf of the entire BNN team, Andy and I thank Dayton for his incredible leadership since 2019,” Hurlburt said. “He brought a transparent and employee-centric leadership style, which I admire and hope to continue during my time in this new role. I am humbled by the confidence the principals have shown in selecting me as the first president of the firm. This new structure allows us to maintain our current practice organization and independent ownership while positioning BNN for future growth and success in the rapidly changing accounting industry.”
Smith began his career at BNN in 1998. He is a principal and has served as director of tax services since January 2024. In addition to his leadership, Smith serves clients in the hospitality, construction, real estate, and professional services industries. He also advises clients on succession planning, cost segregation studies, and tax credit deals.
“This is an exciting time for the firm, and I am honored to be part of this strategic leadership transition,” Smith said. “Everything we do is centered on delivering value for our clients and our people, and that is reflected in this decision. Our team continues to drive tremendous growth through our high-quality service and focus on listening to our clients’ needs. As we enter a new decade, the diversity this leadership structure provides will allow us to continuously evolve and enhance our offerings to ensure BNN is well-positioned to best serve our current and future clients, as well as remain a top place to work.”
BNN, an independent member of HLB, an international advisory and accounting network, is led by 41 principals in five offices across Maine, Massachusetts, and New Hampshire.