Bear with me, I’m writing this on my phone at the side of a pool. Anyway, talk about your Friday night news dumps. This came out of the blue:
Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL), one of the world’s leading audit, tax and advisory firms, announced today that Chief Executive Officer Mike McGuire will assume the role of CEO emeritus, effective August 1, 2019. In this role, McGuire will serve as a brand ambassador for the firm, focusing on business development and supporting key client relationships. McGuire also will help execute a seamless leadership transition for the firm
To us, this was unexpected because last November, GT’s partnership board voted unanimously to extend McG’s reign at the Purple Rose of Chicago until July 31, 2021, his mandatory retirement date.
GTers, if this news wasn’t unexpected to you, give us the lowdown about what’s going on by emailing us.
McGuire took over as CEO in January 2015, replacing the ultra-dynamic Stephen Chipman.
Prior to becoming CEO, McGuire served on Grant Thornton’s senior leadership team as national managing partner of operations and previously was managing partner of the firm’s Carolinas practice. He also is an Arthur Andersen alum.
In a press release, McG said:
“It has been the honor of my life to lead Grant Thornton over the past five years, and I am so proud of all we’ve accomplished as a team. Our firm is on a great path to continue to create value for our clients, build on our leading quality and culture, accelerate innovation and growth, and disrupt our profession.
“As fast as the marketplace is changing, I believe we now need to transition as quickly as possible to new leadership that can take us on the next leg of our journey to become the ‘firm of the future’ over the next five years or more. I will do everything in my power in the coming years to help the firm navigate this transition and continue to succeed.”
But in between helping the firm “continue to succeed,” McGuire will now have more time to spend at Wrigley Field and make dumb Status Go videos with Rickie Fowler.
— Rickie Fowler (@RickieFowler) December 21, 2018
Bradley Preber, national managing partner for business risk services at Grant Thornton, will serve as interim CEO-elect until a permanent CEO is named, the firm said.
The Partnership Board will continue its previously announced long-term CEO succession process that is currently underway with a leading executive consulting firm.
The firm will be led by Bradley J. Preber who will serve as interim CEO-elect, effective immediately, working closely with McGuire and other members of the senior leadership team until formally accepting the position of interim CEO on August 1, 2019. Preber will temporarily step aside from these roles while he serves as interim CEO.
Preber, who also is an Andersen alum, currently serves as chairman of the Grant Thornton partnership board. He joined GT in 2003 and has held several executive roles, including national managing partner of forensic and valuation services.
He also currently serves as the Phoenix office managing partner.