Mark Weinberger elected next Global Chairman and CEO of Ernst & Young

Jim Turley to retire in 2013

LONDON--(BUSINESS WIRE)--Ernst & Young is delighted to announce that Mark Weinberger has today been named its next Global Chairman and CEO. Weinberger will succeed current Global Chairman and CEO Jim Turley, who announced recently that he will retire on 30 June 2013, having led Ernst & Young since 2001. Ernst & Young’s Global Executive and its Global Advisory Council, the organization’s highest management and governance bodies, unanimously support Mark’s selection.

Ernst & Young recently announced revenues of US $22.9b for its fiscal year ended 30 June 2011 and a global headcount of 152,000 people in 144 countries.

Mark, 50, has had a distinguished career with a track record of leadership both inside and outside of Ernst & Young. He currently sits on the Global Executive, the firm’s highest governing body, and runs the organization’s Global Tax practice. Mark has previously served on the Americas Executive and U.S. Operating Committee and run the Americas Tax practice. He has been a senior advisory partner for many of the organization’s largest clients and also serves on the Global Markets Executive and Global Public Policy Committees. Mark was the Assistant Secretary of the U.S. Treasury (Tax Policy) under President George W. Bush and he was appointed to the U.S. Social Security Advisory Board by President Clinton.

Jim Turley, who has led Ernst & Young since 2001, has championed the organization’s successful efforts to lead the profession in globalization and investment in new and emerging markets. Under Jim’s leadership, the organization has grown from US$10b in annual global revenues to US$23b, has doubled its headcount and has established itself as the most globally integrated organization in our profession in mindset, actions and structure. Jim has championed a strong people culture, which is underscored by its drive for increased diversity and inclusiveness that has been recognized by many external awards.

Jim says, “Mark is an outstanding professional who has demonstrated strong leadership within and outside our firm, and serves an active role with many of our largest clients. Importantly, Mark has a regulatory mindset which will ensure Ernst & Young maintains strong connections with the many audit regulators and other officials with whom we engage globally. I look forward to working with Mark through a productive transition and am confident he will be an outstanding leader for Ernst & Young who will take our organization to even greater levels of success.”

Mark says, “It is a privilege to be chosen to lead this great organization. No doubt, these are challenging times as the world faces profound economic, geopolitical and demographic changes. Ernst & Young is well positioned to play a constructive role assisting our clients, regulators and other stakeholders shape the future. I am proud of the important role Ernst & Young plays in the growth and efficient functioning of the global economy. Our role is to build trust and confidence in the world’s capital markets and help our clients to deliver on their promises to their stakeholders. I am proud of the people at Ernst & Young who tirelessly bring value to our clients by providing quality service and sound advice in this complicated and challenging environment. I am committed to build on the strong foundation we have created.”

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About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 152,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. For more information, please visit www.ey.com.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. This news release has been issued by EYGM Limited, a member of the global Ernst & Young organization that also does not provide any services to clients.

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