Mark Weinberger Will Succeed Jim Turley as Ernst & Young Chairman and CEO

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Ernst & Young has internally announced that Mark Weinberger will be the next Chairman and CEO of the firm. Mark is a tax guy, currently the Global Vice Chair of Tax but has a lot of experience inside the federal government serving as an Assistant Secretary to the Treasury of Tax Policy under President George W. Bush, a member of the U.S. Social Security Board appointed by President Clinton and also Chief of Staff and Counsel to 1994 Bipartisan Commission on Entitlement and Tax Reform. Mark got his BA at Emory, his MBA and JD from Case Western and his LLM from Georgetown. But enough about all that. Here's the announcement from E&Y:

Announcing our next Chairman and CEO
 
We have now completed our process to select a new leader for EY and we are very pleased to announce that Mark Weinberger will be Ernst & Young’s next Chairman and CEO. Mark will succeed Jim Turley when he retires in June 2013. The Global Executive (GE) and the Global Advisory Council (GAC), our highest management and governance bodies, unanimously support Mark’s selection.
 
During the past two months, the GE, with support from the GAC, has been through a robust succession process following the guidelines outlined in our regulations. This process included interviews with Area Executives, Advisory Councils and with other partners. The presiding partners of our Advisory Councils have also assisted and all those involved have reported that there has been strong engagement from the broad partner group. From this process, a number of extremely strong candidates emerged who were highly regarded throughout the organization. Mark received broad based support across geographies, service lines and sectors.
 
Mark first joined EY in our Washington, DC office in 1987 and has held many senior leadership roles. Mark has a track record of leadership both inside and outside of Ernst & Young. He currently sits on the Global Executive and runs the Global Tax practice, having previously sat on the Americas Executive and run the Americas Tax practice. Mark also serves on the Global Practice Group, Global Markets and Global Public Policy Committees. Mark has had senior roles on account teams, interacting with boards and senior management of many of our organization's largest clients, including BP, General Electric, Microsoft, Lenovo, Goldman Sachs, AES and Unilever. Mark has had very senior roles in government, including serving as Assistant Secretary to the U.S.Treasury (Tax Policy) under President George W. Bush and he was appointed to the U.S. Social Security Board by President Clinton. Mark also set up a law firm which grew to be one of the top U.S. legislative and regulatory advisory firms.
 
Mark is recognized as a leading authority on tax and regulatory policy and speaks regularly at major client events and accounting and profession conferences. He has a strong academic background in economics, finance and law. He sits on the Board of Directors for The Tax Council and The American Council for Capital Formation in Washington, DC, and has served on several U.S. Policy Advisory Committees.
 
Mark, 50, lives in Potomac, Maryland with his wife and four children.
 
"I believe that the GE and the GAC have made an excellent choice," says Jim. "Mark will be an outstanding leader for Ernst & Young over the years to come and will take our organization to even greater levels of success."
 
Mark and Jim will work closely together as Mark transitions into the role over the next 17 months. Mark will use the title Chairman and CEO – elect
 So E&Y has found their man but the real important question here is how we best amend the lyrics for In a JIT. Or maybe we just hope that another, better song and video come along. 
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