Mark Weinberger will resign his post as global chairman and CEO at EY, effective next summer.
The firm says it plans to appoint a new leader in January to allow for a six-month transition to the start of its fiscal year on July 1, 2019.
Weinberger was elected to his post in 2012. He has served on the firm’s highest governing body, called the “Global Executive,” for 10 years. He was a member of the Americas Executive Board for five years before that.
Weinberger said in a prepared statement he believes it’s time to pass the baton to the next generation of EY leaders. “When I reflected on the massive changes we have navigated over the last seven years and the strong position we command to enable EY to excel in the years ahead, I realized that the time is right for me to step aside,” he said.
Under Weinberger’s leadership, EY’s annual compounded revenue grew 8.5 percent, the firm said. More than 120 acquisitions in the last six years alone have expanded the firm’s skills and capabilities into areas like cyber-security, artificial intelligence, and data. The firm has deployed some 2,000 bots, 700 used internally and 1,300 for clients.
The firm also credits Weinberger for embracing diversity at all levels of the organization, increasing the percentage of women in leadership roles, and innovating performance management and skills accreditation as part of evolving its culture.
In addition to his leadership at EY, Weinberger’s extensive resume includes significant policy positions in the U.S. federal government and globally. He was co-founder of a Washington D.C.-based law and legislative advisory firm that merged into EY, and he holds a number of board and advisory positions for various nonprofits.