Moms. God love 'em. Where would we be if they hadn't sat up on the couch waiting for us to get home, wondering if we had been involved in some fiery car crash when we were, in fact, in backseat of the car that was perfectly still, fumbling with those damn hooks. We'd all be in roadside ditches, that's where we'd be. Even if you were destined to be a complete loser they believe in us. Well, unless your mom was a drunken floozy who couldn't say a nice word about anyone. Then that sucks.
Members of his considerable extended family were delighted to learn the news, but perhaps none so much as his mother, Goldye Weinberger, of Scranton. "I'm his mother, I always knew he was destined for greatness," she said. She just didn't know in what.
It probably started when Mark got that job running the ice cream parlor while he was at Emory. Oh, that was just the beginning.
He was a good student at Wyoming Seminary in Kingston, but not a "numbers" kids and not bookish. She called him "a student of the world." She admitted she's somewhat surprised her son, who is a lawyer, is head of a renowned accounting firm.
Do I sense the slightest bit of disappointment here, Mrs. Weinberger? No, he's not a baseball player and no it's not PwC and yes, there is the Lehman Brothers thing but Ernst & Young is no slouch. Can someone point the poor woman to the In a JIT video?
This morning we learned from a couple of sources that the big guy will be calling it a career officially on June 30, 2013 and the firm will announce a new CEO-elect at some point in early 2012.
Here’s JT’s message to the troops:
I have written to all our partners to let them know about my plans to retire from Ernst & Young on 30 June 2013.
Every year, our Global Executive (GE) considers the priorities and initiatives we feel Ernst & Young should focus on in the upcoming year, and these priorities are then approved by our Global Advisory Council (GAC), the top governance body of Ernst & Young.
Periodically, we also take a longer look at our strategy and vision, and involve the GAC in this as well. In July, we informed our partners that we were beginning such a long-term strategic review. The GE and I believe that our new strategy and leadership-succession plans are inextricably linked, and we agreed that June 2013 would be the right time for me to retire.
This is a normal process and the timing has worked out perfectly. I will be 58 years old, which is the normal early retirement age for many of our partners. By then, we will be implementing our new strategy and it’s right that a new leader should steer this implementation.
We are starting a robust process to identify the man or woman who will succeed me, in accordance with our regulations. We intend to identify a new Chairman and CEO elect during the first part of 2012. What I feel very good about is that we’re the type of organization that continually develops large numbers of great leaders, so I see many men and women who could lead Ernst & Young successfully into the future.
This is not a retirement letter or speech to you all, as there is much to do before June 2013. However, I wanted to be very open with you about our plans. Thank you for your continued support as we continue both our strategy and succession-planning process.
James S. Turley
Chairman and CEO
UPDATE: Ernst & Young provided us with the following statement:
In a communication to all Ernst & Young partners worldwide on 10 November 2011, James S. Turley, Chairman and Chief Executive Officer of Ernst & Young confirmed that he will retire as planned, aged 58, on 30 June 2013. The succession process to decide a new Chairman and CEO-elect is now underway and will conclude in early 2012, no later than April.
So after riding out Lehman, handing out a lot of trophies, and inspiring the greatest lyric in the history of Big 4 employee produced videos, (I’m sure there are other accomplishments too) Jimbo will ride off into the Black and Yellow sunset. This seems like an appropriate tribute: