The newly picked global leaders of EY and PwC, both prepared to start July 1, have vastly different backgrounds that reflect the tough issues the Big 4 firms are facing, observed The Wall Street Journal in a recent article.
Janet Truncale, who leads EY’s Americas financial service business, was selected as global chair and CEO. Truncale is a CPA who comes from an auditing, accounting and consulting background, which may help the firm move past its now-abandoned plan to divide its advisory and audit services into separate businesses, the Journal reported.
PwC chose Mohamed Kande, who will be the first Black leader to head a Big 4 firm, pending member-firm approval. Kande is also the first consultant to be selected as a Big 4 global chair.
The Journal, citing academics, reported, “PwC’s selection of a consultant may signify that audit isn’t as central to the growth strategy as it used to be, while EY’s move demonstrates an appreciation for both audit and consulting sides following the failed plan known as Project Everest to split them into separate companies.” Read more here.
