Deloitte CEO Punit Renjen elected for another four years

Global professional services powerhouse Deloitte has re-elected Punit Renjen as CEO following a successful first four-year term.

First taking the helm in 2015 after a period as US Chairman, Deloitte Global CEO Punit Renjen has been re-elected by his peers for a further four years – having guided the firm to the top of the Big Four table during his previous term with annual global revenues now exceeding $43 billion. Renjen has been with Deloitte for more than three decades, first joining Touche Ross in 1987 prior to its 1989 take-over.

Since then, the Indian-born Renjen has held a number of high-level roles during his rise to the top, including periods as Global Leader for Consulting Strategy & Operations and M&A Consultative Services and as CEO of Deloitte Consulting in the US – the nation he emigrated to on the back of a scholarship to Williamette University in Oregon to complete an MBA.

“When I began my career in the 1980s, I doubt there was anyone who could have envisioned the world we live in today or the important role that business would play in creating a more sustainable and equitable society,” Renjen said. “Ultimately, the success Deloitte achieves and the mark we’ll leave will be measured not by the bottom line, but by the positive impact we make for clients, our people, and for society.”

Renjen continued; “Leading Deloitte has been a privilege, and I am honored to be chosen by my colleagues to continue our work for four more years. As Deloitte nears its 175th year, I’m both proud of the significant impact our professionals have made, and optimistic about Deloitte’s ability to enhance trust in markets, create solutions for clients, develop highly capable leaders, and help solve the toughest societal challenges.”

Meanwhile, Deloitte has also welcomed Sharon Thorne as its new global chair – the first woman to hold the role. A noted champion of diversity, Thorne until this month had served as Deputy CEO for Deloitte’s North-West Europe division (which accounts for more than €5 billion of the firm’s annual revenue), but was elevated above the vacant CEO role, which has since been filled by former UK Consulting Managing Partner Richard Houston.

“Sharon’s leadership has made Deloitte stronger globally. Her vision for the Global Board is built around her aspiration to make a positive impact in the world and backed up by a career full of action, especially as an unflinching advocate for a more diverse and inclusive workplace. I look forward to working with Sharon in her new role to further our collective purpose-driven vision for Deloitte,” said Renjen at the time of Thorne’s appointment.

With June marking the start of Deloitte’s calendar year, several other newly elected leaders have also taken up their fresh positions – including a considerable shuffle in North America. In Canada, Anthony Viel has taken over as CEO, while south of the border the firm’s US practice sees Joseph Ucuzoglu and Janet Foutty assume the roles of CEO and Chair, with Lara Abrash and Dan Helfrich filling their shoes as the CEOs of audit branch Deloitte & Touche and Deloitte Consulting.

If Renjen survives to see out his second term at the top of one the world’s most influential companies, he will according to a recent study by Strategy& be ahead of the median longevity for CEO tenures – which has in recent times fallen to just five years, with a record number of CEOs forced out last year for ethical breaches. Carmine Di Sibio meanwhile is set to take over at rival Ernst & Young from the beginning of next month.