EY Picks Janet Truncale as First Female CEO to Lead Big Four Firm

Janet Truncale, the first female leader of a Big Four audit firm, has been appointed as the new CEO of Ernst & Young LLP. She will take over from Carmine Di Sibio on July 1, the London-based accounting giant announced in a statement.

Truncale was previously the regional managing partner of EY’s financial services organization, which has 14,000 professionals, the statement said.

Meanwhile, in a statement, Truncale said, “I am honored and humbled to lead this incredible organization. Carmine has been a great role model for me, instilling a vision to be leaders in our profession, focusing on staying ahead of the curve in technology, and most of all embodying EY values.

The announcement comes after the accounting firm abandoned its planned split, which involved spinning off its consulting and tax businesses into a separate public company. That plan was derailed after EY’s powerful US affiliate objected, and partners clashed over key issues such as how to split the tax practice.