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No One Seems to Care That Deloitte Named Joe Ucuzoglu CEO

Posted on by Jason Bramwell

Is it me or does there seem to be absolutely no buzz about Joe Ucuzoglu being elected as the new CEO of Deloitte? Is it because people are still talking about yesterday’s guilty verdict in the trial of former KPMG partner David Middendorf? Or maybe because we’ve known unofficially since December that Ucuzoglu was going to take over the big chair?

Joe Ucuzoglu

I can’t find anything about this on Deloitte’s website (as of 2:05 p.m. EDT). And no congratulatory tweet from Deloitte US on Twitter. The only thing I saw this morning was a Deloitte press release sent out on PR Newswire at 2 p.m. EDT yesterday. I found a couple of articles posted earlier today about Joe U. becoming CEO and Janet Foutty being elected chair of the Deloitte Board of Directors, but that’s it.

Does anyone else find this weird?

Ucuzoglu, chairman and CEO of Deloitte’s audit practice, Deloitte & Touche, will replace Cathy Engelbert as Deloitte CEO on June 2. Engelbert was not nominated by the firm’s board of directors last year to serve a second four-year term as CEO.

Ucuzoglu succeeded Engelbert as chairman and CEO of Deloitte & Touche in March 2015, after Engelbert was promoted to lead Deloitte, becoming the first woman CEO of a Big 4 firm in the U.S.

About being elected CEO, Joe U. said:

“I am truly honored and humbled by this opportunity my partners have given me to lead Deloitte. Our multidisciplinary platform positions us uniquely to lead our diverse stakeholders through a period of disruptive change and capitalize on the rapid pace of innovation. It is imperative that, as a business community, we project a positive vision of the many benefits that a technology-driven future will have across our society. We are deeply committed to delivering differentiated value and making a positive impact on our clients, our people and our communities.”

Ucuzoglu serves on Deloitte Global’s Board of Directors, which has a new chairwoman, as well as other boards, including the U.S. Chamber of Commerce. Before being appointed CEO of Deloitte & Touche in 2015, Ucuzoglu was Deloitte’s national managing partner for government, regulatory, and professional matters. He was formerly a senior adviser to the chief accountant at the Securities and Exchange Commission.

Janet Foutty

Foutty, a 28-year veteran at Deloitte, was named Deloitte Consulting’s first female CEO in December 2015. She will succeed Mike Fucci as Deloitte US chairman of the board, a title he has held since March 2015.

Previously, Foutty led Deloitte’s federal government practice and the Deloitte Consulting technology practice. And you can see her in a new comic book.

About taking over as chair of the firm’s board of directors, Foutty said:

“Leading the Deloitte board is a privilege and I’m grateful for the confidence our partners have placed in me. I am committed to ensuring effective, transparent governance while at the same time providing collaborative strategic guidance to Joe and his management team as we strive to further differentiate the value we deliver to the marketplace and fulfill our public interest responsibilities.”

OK, Green Dots, how do you feel about your new CEO? Let us know in the comments—unless you don’t care either.

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Deloitte’s World Cup Fantasy League Will Ensure That No One Gets Any Work Done for a Month

Deloitte is officially the first Big 4 firm to succumb to their World Cup fever. Understanding that a large portion of its 160,000-ish employees will be completely unproductive for the next month, rather than take reactionary measures, D has instead decided to encourage participation the Deloitte World Cup Fantasy League.


Don’t worry if you happen to work at a less cool firm that would never encourage such egregious behavior, anyone can play in Deloitte’s World Cup Fantasy League, so some KPMG folk can enjoy a little international competition and sport denim twice a week.

PLUS! You could throw some of your hard-earned money around based on PricewaterhouseCoopers picking Brazil as the favorite but Deloitte would rather you spend your precious chargeability obsessing over the hottest player about to go cold in order to win a replica of the World Cup trophy.

And if that’s not worth your time then maybe you aren’t capable of being pleased by anything. Except for perhaps more images of football stars with their shirts off.

[h/t The Big Four Blog]

Former Deloitte Employee Wants to Know If Returning to Public Accounting Is a Good Idea

Back with more from the accounting career mailbag: a former Deloitte employee left the firm recently only to discover that life outside public accounting isn’t all that it’s cracked up to be. Should they return to the Greed Dot???

Have a question about your career? Looking for guidance on how to give your firm some honest feedback? Need some pointers on Twitter etiquette? Email us at [email protected] and will whip something up for you.

Back to our ex-Del

Caleb,

I am writing to you in the hopes that you can provide some insight. Here is my situation, I worked at Deloitte for about four years now in the Pacific Southwest region of the US. I recently quit and took a job at one of the big public Companies in my city. After being there for a couple of months I’ve realized that I am kind of bored and am considering going back to public accounting.

The partner I worked for at DT told me to call him anytime. Before I make that call I wanted to get some input. If I go back I’ll be a manager within a year, does the job function change that much like they are telling me? I’m single and in the long term I’m not sure what I want, for now I just want to work get some more experience and then figure it out.

Considering Going Back

Dear Considering,

Your problem is not an uncommon one. Many people have spent their entire careers bitching about life inside public accounting only once they leave, they come to the conclusion that they never had it so good. There are a couple of ways to interpret this:

1. You really do love public accounting and you truly believe it is your calling in life.

2.

Of course every situation is different and in your case, you’re looking at a promotion to manager in a year. Let’s give the partner the benefit of the doubt here and consider your question about life as a manager. Personally, we didn’t have the pleasure of reaching the rank but know plenty of friends and colleagues who did and many, many, many of them said it was their toughest year of their career to date.

What happens is that your auditing skills become less important and your time management and people skills begin to take center stage. Can you handle staffing issues? Prepare a presentation for a RFP? Convince a partner that a client really isn’t that pissed and you’re not getting fired (when, in fact, the opposite is true)? This is just a taste of your responsibilities. OH! And do you like reviewing other people’s work? Because you’ll have to squeeze that in as well.

Now that we’ve scared the living daylights out of you – it sounds like you’re more concerned with enjoying your job and getting good experience rather than money. That’s rare around these parts, so good for you.

Bottom line is this – if you’re not happy at your current job and think that career bliss awaits you back at the Green Dot with Sharon and the Costanza Twins, you should go back.

Peanut gallery – what do we think here? Back into the belly of the beast or is it a huge mistake? Fire away.