EY Global Chairman and CEO Mark Weinberger to step down effective July 1, 2019
Singapore, 4 December 2018
EY today announces that Mark Weinberger will step down from his role as EY Global Chairman and CEO effective from July 1, 2019 – the start of its financial year 2020.
During Weinberger’s tenure as EY Global Chairman and CEO, the global organization has undergone tremendous change. EY is now helping more clients in more places tackle their toughest challenges than ever before. There are more than 270,000 EY people in over 150 countries, and last year 65,000 people joined EY.
Weinberger embraced the transformation needed for EY to be a leading professional services organization and during his tenure its annual compound revenue growth rate was 8.5%. Over the past six years, over 120 acquisitions have brought in new skills and capabilities, such as cybersecurity, artificial intelligence and data. Today EY has 2,000 software robots (bots) at work, with 1,300 of these for clients and 700 in use internally. There are now over 20,000 data and analytics practitioners and more than 2,000 data scientists in EY. Best-in-class blockchain, cyber and digital solutions have been developed in EY.
Within the organization, Weinberger championed increasing diversity at all levels and creating a more inclusive culture. On the Global Executive, the highest governing body in EY, the percentage of women increased to more than 26% and it included more representation from the emerging market and early stage partners to bring in younger voices. Additionally, nearly 30% of the EY FY18 partner class consisted of women. He also focused on developing EY people, creating a best-in-class experience through innovative programs such as EY Badges (a skills accreditation program) and LEAD (its non-numerical based performance management system). Weinberger established the global organization’s purpose of Building a Better Working World during his tenure, as he guided the evolution of EY into a purpose-led organization.
Weinberger has served on the EY Global Executive for the past 10 years and on the Americas Executive Board for the five years prior. He was elected EY Global Chairman and CEO in 2012 and successfully led EY through its Vision 2020 strategy and believes the time is right for him to step down at the beginning of its fiscal year 2020.
Weinberger says, “When I reflected on the massive changes we have navigated over the last seven years and the strong position we command to enable EY to excel in the years ahead, I realized that the time is right for me to step aside. I know there is an even brighter future for EY and I’m excited to see what will be shepherded in by the next generation of exceptional EY leaders. I have great confidence in the extraordinary talent that extends across our organization. I’m thankful for the opportunity to have served EY clients and people around the world.
“I am sincerely grateful to each and every one of the 270,000 EY people and countless alumni around the world; the success of EY has always come down to EY people. Individually and collectively we have driven EY’s accomplishments. The best part of being EY Global Chairman and CEO, and what I will miss the most, is traveling around the world to meet with EY people and clients. I have always been amazed and humbled by the everyday acts EY people do to build a better working world and have been privileged to see this firsthand.”
EY has a well-defined succession process and will vet a diverse slate of candidates. It expects to appoint a new EY Global Chairman and CEO sometime in January, allowing a six-month transition and smooth hand over of responsibilities which will become effective July 1, 2019.
Mark Weinberger biography:
Mark Weinberger is the EY Global Chairman and CEO. EY is a global leader in assurance, tax, transaction and advisory services. With approximately 270,000 people in more than 150 countries, EY is one of the largest professional services organizations in the world.
In addition to his time at EY, Mark has previously served as the Assistant Secretary of the United States Department of the Treasury (Tax Policy) in the George W. Bush Administration. Mark was also appointed by President Clinton to serve on the US Social Security Administration Advisory Board, which advises the President and Congress on all aspects of the Social Security system. Mark has also held other US government and policy positions, including Chief of Staff of President Clinton’s 1994 Bipartisan Commission on Entitlement and Tax Reform; Chief Tax and Budget Counsel to US Senator John Danforth (R-Missouri); advisor to the National Commission on Economic Growth and Tax Reform; and Commissioner on the National Commission on Retirement Policy.
Mark was co-founder of Washington Counsel, P.C., a Washington DC-based law and legislative advisory firm that merged into EY and now operates as Washington Council EY.
Mark plays an active role in the World Economic Forum (WEF), serving as a member of its International Business Council and as a Global Agenda Steward for Economic Progress. He co-chairs the Russia Foreign Investment Advisory Council (FIAC) with Prime Minister Dmitry Medvedev, and serves as Chairman of the International Business Leaders Advisory Council (IBLAC) to the Mayor of Shanghai. He is on the Board of Directors of the Washington DC-based, US Business Roundtable and chairs its Tax and Fiscal Policy Committee. He is also a member of the International Advisory Board of British-American Business, is a member of the International Integrated Reporting Council (IIRC), and is on the Board of Advisors for the American Council for Capital Formation. Mark was a member of President Obama’s Infrastructure Task Force and President Trump’s former Strategic Policy Forum, providing input on how government policy impacts economic growth, job creation, and productivity.
Mark sits on the Board of Directors for Catalyst and is Chair of the Audit Committee, as well as on the Boards of FCLTGlobal (Focusing Capital on the Longterm), The Tax Council and the Bullis School in Potomac. In addition, Mark is a Vice Chair on the Corporate Fund Board at The Kennedy Center for the Performing Arts. He also sits on the Board of Trustees for the United States Council for International Business (USCIB), the Greater Washington Partnership and The Concord Coalition. Mark is also a member of the Board of Trustees for Emory University and Case Western Reserve University.
In December 2012, Mark was presented the prestigious Achievement Award by the Anti-Defamation League. Cornell University honored him in September 2015 with the Robert S. Hatfield Fellowship in Economic Education Award, the highest honor Cornell can bestow on someone from the private sector. The award stands as a platform for the exchange of ideas between the academic and corporate communities. In 2015, Mark received the Tax Council Policy Institute’s Pillar of Excellence Award. The Weatherhead School of Management at Case Western Reserve University honored Mark with the Braden Award in 2017; given to a leader in the professional practice community who has made distinctive contributions to the knowledge and advancement of the discipline of accountancy. In November of 2018, he was awarded the Tax Foundation’s Distinguished Service Award.
Mark holds a B.A. from Emory University in Atlanta, Georgia, an M.B.A. and J.D. from Case Western Reserve University in Cleveland, Ohio and a Master of Laws in Taxation from Georgetown University Law Center in Washington, D.C. Mark has an honorary doctorate from the Kogod School of Business at American University in Washington DC
Mark and his wife, Nancy, live in Potomac, Maryland and have four children.
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