Ernst & Young: Mark Weinberger Elected To Succeed Jim Turley as Global Chairman and CEO

Erica deVry, Big4.com Staff Reporter

Ernst & Young’s Global Executive and its Global Advisory Council, the organization’s highest management and governance bodies, have announced their unanimous support in the selection of Mark Weinberger as the firm’s next Global Chairman and CEO.

Weinberger will succeed current Global Chairman and CEO Jim Turley, who recently announced his retirement from the firm effective 30 June 2013.

As a current member of Ernst & Young’s Global Executive, Mark also serves as the Global head of Tax. Mark has previously served on the Americas Executive and U.S. Operating Committee and was the Americas head of Tax. He has been a senior advisory partner for many of the organization’s largest clients and also serves on the Global Markets Executive and Global Public Policy Committees.

A former Assistant Secretary of the U.S. Treasury (Tax Policy) under President George W. Bush, Weinberger was appointed to the U.S. Social Security Advisory Board by President Clinton.

“Our role is to build trust and confidence in the world’s capital markets and help our clients to deliver on their promises to their stakeholders,” said Weinberger. “I am proud of the people at Ernst & Young who tirelessly bring value to our clients by providing quality service and sound advice in this complicated and challenging environment. I am committed to build on the strong foundation we have created.”

Since 2011, Jim Turley has championed the organization’s successful efforts to lead the profession in globalization and investment in new and emerging markets. Under Jim’s leadership, the organization has grown from US$10b in annual global revenues to US$23b and has doubled its headcount.

Commenting on the recent announcement, Mr. Turley said:

“I look forward to working with Mark through a productive transition and am confident he will be an outstanding leader for Ernst & Young who will take our organization to even greater levels of success.”

Ernst & Young recently announced revenues of US $22.9b for its fiscal year ended 30 June 2011, and a global headcount of 152,000 people in 144 countries.