Ernst & Young LLP picked Janet Truncale as its next chief executive officer, placing the first woman atop a Big Four audit firm.
She will succeed Carmine Di Sibio on July 1, according to a statement from the London-based accounting giant. Truncale most recently was the regional managing partner for EY’s financial services organization, which includes 14,000 professionals, according to the statement.
“It will truly be an honor to lead this amazing organization,” Truncale said in the statement. “I am inspired by the example Carmine has set, instilling an intent to be profession leaders, focusing on staying ahead of the curve in technology and most of all personifying EY values.”
The move comes just months after the accounting firm scrapped its planned breakup, which included a plan for the company to spin off its consulting business and much of its tax practice into a stand-alone public company. That plan was jeopardized after EY’s influential US affiliate balked, while partners squabbled over key issues like how to divide the tax practice.