Consulting and auditing company EY wants to fill the top position of Global Chairman by November. Names are starting to make the rounds, but the partnership is deeply divided.
In the race to succeed EY's top boss Carmine Di Sibio, his right-hand man Andy Baldwin (pictured below) is said to be very well positioned. But the failed split of the firm into separate consulting and auditing businesses is likely to make the recently launched selection process complicated.
Baldwin, a British national, is the first non-American executive to run for the top post, according to a «Financial Times» (behind paywall) story citing unnamed sources. It's said there are doubts within the company about whether he would be suitable to reunite the factions of supporters and opponents of the failed split.
Baldwin, like Di Sibio, had pushed the initiative dubbed «Project Everest.»
(Image: EY)
Baldwin worked as an EY consultant for 25 years. He served as European head for three years and drove the integration of the individual national firms. In 2019, he became one of the two deputy global CEOs but served only one term due to age limits.
A Woman on the Summit?
In the search for candidates, other high-ranking executives put their names in play or are considering doing so, according to the report. Canada chief Jad Shimaly would also be considered one of the favorites.
Following an EY senior management meeting in Lisbon, Shimlay had been mentioned as a candidate who could unite the camps. Marie-Laure Delarue, a French partner who leads EY's global audit practice, has also been mentioned as a contender and would be the first woman to head EY at the global level.
Other candidates mentioned include Janet Truncale, who leads EY's financial services business in the Americas, and Ryan Burke, who leads the firm's private client business.
According to the sources, Julie Teigland would also consider running. She is EY's head of Europe, the Middle East, India, and Africa, and was previously in charge of EY Germany when the company became embroiled in the Wirecard scandal. At the time, Baldwin was still the European chief.
Heavy US Influence
The head of the US audit business, Julie Boland, will not be a candidate. The managing partner dealt a death blow to the Everest project last April but will have a big influence in deciding who will fill the CEO post. The US accounts for about 40 percent of EY's global revenue.
The application period is expected to run until August 13, according to an internal email, after which a nominating committee will gauge the sentiment among senior partners, it said. A decision will then be made by the global executive committee, chaired by Di Sibio, and confirmed by a group of prominent partners.
