Weinberger to Step Down as CEO of EY in July

Mark Weinberger

Mark Weinberger will step down from his role as global chair and CEO of New York-based Ernst & Young (FY17 net revenue of $13 billion).

The move is effective on July 1, 2019, the start of EY’s financial year 2020.

During Weinberger’s tenure, the global organization has undergone tremendous change. EY has more than 270,000 employees in over 150 countries, and last year 65,000 people joined the firm.

During his tenure, the firm’s 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, the firm announced.

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. 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.

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 to his current role in 2012.

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.”

EY expects to appoint a new EY global chairman and CEO sometime in January, allowing a six-month transition.