Janet Truncale is laying the groundwork for when she takes the reins at the big four accounting firm in July.
| EY’s new boss Janet Truncale has set out her leadership team for the big four accounting firm, moving an architect of its failed split from his executive role and signalling plans to cut costs across the global firm., according to an email to partners this week, which said the wider global executive team would be “the same size or smaller” in future.
Ms Truncale beat Mr Baldwin and four other candidates for the top job in November, with a brief to heal divisions caused by the failure of a plan to spin off the firm’s global consulting business., alongside outgoing global chair Carmine Di Sibio.The plan’s failure highlighted long-simmering tensions between EY’s global headquarters and the leadership of its US business, which nixed the spin-off last April after more than a year of work and planning costs that ran to $US600 million .
The US has often chafed at these central costs, which totalled $US6.4 billion last year, or almost 13 per cent of the group’s global revenue. Although Ms Truncale had not been a member of the global executive team under Mr Di Sibio, she is his longtime ally and had been a supporter of the plan to split the firm, which would have been the most radical restructuring of a big four firm in two decades.