By now, everyone has heard the news we broke Monday afternoon that Mark Weinberger is noping on up out of his role as EY global chairman and CEO, effective June 30, 2019. We were able to secure an interview with him that we’ll share with y’all soon, but in the meantime, let’s speculate wildly on who might take his place at the firm.
According to the source who tipped us to Weinberger’s unexpected exit over the weekend, “it is expected” that Carmine Di Sibio, EY’s global managing partner for client service since 2013, will be elected next global chairman. However, according to the statement Weinberger sent EY employees on Monday, the election process is in its earliest stages at this point in time.
The GE will begin the soundings process and will then nominate the next Global Chairman and CEO, and the Global Governance Council will ultimately review and approve the GE’s nominee. It is expected that the process will run through the end of this calendar year, with our new Chairman and CEO-elect announced in January 2019.
Our tipster did not elaborate on why they believe Di Sibio to be the frontrunner to take Weinberger’s place, but given the accuracy of the tip, including the timing of Weinberger’s departure, we have no reason to believe our tipster pulled that name out of his or her ass. That said, we’re also just spitballing here as we are wont to do when rumors are swirling.
Looking at Di Sibio’s bio, chairman wouldn’t be that unreasonable as far as career next steps go.
Carmine leads the execution of our strategy in the market and is responsible for our global business performance. He has overall leadership for our four geographical Areas and four service lines so that our 200,000 client servers can provide exceptional service wherever our clients do business.
In addition to leading our acquisitions and alliances strategy, he is responsible for innovation and created the Global Innovation Team to focus on developing new technologies and services in order to disrupt ourselves and adapt to the future.
Since joining EY in 1985, he has served as an Advisory and Assurance Partner for many of our financial services accounts and held several leadership positions. He continues to serve many of our largest accounts as a senior advisory partner.
Carmine has a BA in Chemistry from Colgate University and an MBA from New York University. He is a practicing CPA.
In addition to his many years of service at EY, Di Sibio sits on the board of Family Promise, a national nonprofit organization that “primarily serves families with children who are homeless or at risk of homelessness.”
We haven’t heard of any other names being thrown around, and of course EY is being coy when it comes to giving us the scoop, if there’s even one to give. Di Sibio declined the opportunity to comment on the rumor. So, please feel free to name-drop in the comments if you have any favorites for next EY global chair.
We’ve heard from a couple people that Ernst & Young had an “all hands webcast” of some kind today but so far, no one has given us any details as to what was discussed.