E&Y CEO Turley Retiring Effective June 2013


James S. Turley is retiring as chairman and CEO of Ernst & Young effective June 2013, the Big Four accounting firm confirmed Wednesday.  

 

In a communication to E&Y partners worldwide Nov. 10, Turley said that he would retire at age 58, according to a statement released by the firm. The succession process is under way and will conclude no later than April 2012, according to E&Y.

 

Turley became the firm’s CEO in 2001. He began his career in the firm's Houston office in 1977 and has held a series of leadership positions within the organization.

 

He is a member and former chair of the governing board for the Center for Audit Quality, which is affiliated with the AICPA. In the summer of 2010, Turley was appointed to the President’s Export Council.

 

E&Y employs more than 141,000 people in 140 countries. In the fiscal year that ended June 30, 2011, E&Y generated global revenues totaling $22.9 billion, according to the firm’s website.

 

Another Big Four firm, KPMG, changed global chairs on Oct. 1, when Michael J. Andrew took office. Andrew replaced Timothy P. Flynn, who retired when his five-year elected term expired.

 

SPONSORED REPORT

Solving the lease accounting challenge

The challenges of the new lease accounting standard have been pervasive to say the least. In this free, independently-written report, you'll learn effective adoption strategies as well as resources for easing the transition to the new standard.

FEATURE

Tackling TCJA changes this tax season

Return preparers must be ready for how the Tax Cuts and Jobs Act has modified many common features of individual and business returns.