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When Jim Quigley's four-year term atop the global giant that is Deloitte comes to an end this summer, the top dog won't be returning to the helm. In his place will be Barry Salzberg, the current head of Deloitte LLP (Deloitte US), elevated to the post via an internal election. Quigley did not seek re-election.
Under Quigley, 59, Deloitte made big strides in terms of raw revenue and overall employee count; in his last year as global CEO, Deloitte raked in a mammoth $26.6 billion in revenue and grew its staff to more than 170,000. He also made consulting a major priority for a firm that was once dominated by its accounting division, a push that saw him sign off on the $350 million BearingPoint acquisition in 2009 (though he also presided over the failed merger attempt with Roland Berger). Under Quigley's guidance, Deloitte announced in 2010 its plans to hire nearly 250,000 new employees—more than doubling its current size—through 2015, an indicator of the huge success the firm enjoyed under his reign. Understandably, Quigley feels proud of his accomplishments. "I am pleased with how we have positioned our businesses broadly," he told the Wall Street Journal with more than a healthy measure of modesty. Quigley will stay on at Deloitte in a senior partner capacity.
As for Barry Salzberg, he's tasked with the unenviable duty of making good on Quigley's massive hiring promise and, as the Financial Times suggests, keep pace with PwC "for the title of the world's biggest accountancy and consultancy network." If anyone has the chops to meet Quigley's high standards, though, it's probably Salzberg. A Deloitte employee since 1977, Salzberg has been among the firm's top brass in the US since at least 2000, helping to manage the more than 45,000 Deloitte employees who work here. His rise has been an organic one through the ranks of one of the world's most prestigious companies. He is, in effect, Mr. Deloitte.
Another familiar face involved in the executive shakeup is Punit Renjen, the current (soon-to-be former) CEO and Chairman of Deloitte Consulting LLP, the firm's consulting unit in the US. Renjen will replace Sharon Allen as Chairman of the Board of Deloitte LLP when Allen retires later this year. The new Chairman has some impressive shoes to fill; Allen was named to Forbes' 100 Most Powerful Women in the World list four times in a row.
So, how will Salzberg measure up to his predecessor? Only time will tell. But if his superb mustache is to be considered, Deloitte will probably be just fine.
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