Grant Thonton LLP’s Partnership Board named J. Michael (Mike) McGuire, 55, as the firm’s CEO-elect on Monday, succeeding Stephen Chipman on Jan. 1, 2015.

McGuire most recently served on the firm’s Senior Leadership Team as national managing partner of operations. In this role, he chaired the firm’s Operating Committee and oversaw the firm’s human resources and marketing and sales teams. In addition, the regional managing partners and the Global Public Sector managing partner reported to him. He also chairs the Grant Thornton Foundation and serves on the Grant Thornton International Ltd Strategic Driver Execution Team. McGuire was nominated by the Partnership Board and ratified by the Grant Thornton partners.

“Following comprehensive succession planning and a thorough search process, we’re pleased to have found in Mike an exceptional leader to continue to guide Grant Thornton successfully in the future,” said Dave Wedding, chairman of the Partnership Board of Grant Thornton, in a statement. “He has been instrumental to the growth of the firm, having been involved in numerous high-profile, transformational efforts, including the build out of the firm’s industry program, the successful reinvention of our Marketing & Sales organization, and the advancement of the firm’s talent and culture agenda.”

“I am honored to have the opportunity to lead Grant Thornton,” said McGuire. “I am deeply committed to the firm’s values, strategy and furthering the global brand. I look forward to working with our talented people to position the firm for long-term success.”

Previously, McGuire served as the national managing partner of Markets, Industry, People & Culture, and was the managing partner of Grant Thornton’s Carolinas practice, which includes offices in Charlotte and Raleigh, N.C., and Columbia, S.C. He also served on the firm’s Partnership Board.

Prior to joining Grant Thornton, McGuire spent 20 years with Arthur Andersen in numerous roles of increasing responsibility, including as Audit practice leader for the Carolinas.

McGuire serves on the board of directors of the Charlotte Chamber of Commerce, the Bechtler Museum of Modern Art and Queens University of Charlotte. He serves as chairman of the board for Advantage Carolina and is co-chair of the Johnson & Wales University Epicurean Society Scholarship Fund.

McGuire received a bachelor’s degree in accounting and management information systems from Bowling Green State University. He is a certified public accountant in North Carolina.

“Mike is well positioned to build off of our very strong market position that Stephen has contributed to in support of the Grant Thornton global network’s vision of serving dynamic organizations in our chosen markets,” added Wedding. “The Partnership Board thanks Stephen for his leadership and enduring commitment to advancing our firm during the last five years.”

Grant Thornton's Partnership Board has previously extended Chipman’s term as CEO, but only until Dec. 31, 2014. He was named CEO in 2010 and significant enhancements were made during his tenure, including returning the firm to a trajectory of growth and increasing the firm’s revenue by 15 percent during the last two fiscal years. During Chipman's tenure, the firm embraced initiatives to better serve its clients through the establishment of a shared services center in India and the launch of the China, India and Japan business groups.

The firm also extended the breadth and depth of its services through a number of strategic acquisitions under Chipman, including its acquirement of MarketSphere’s Oracle Solutions business unit, continuing to accelerate the double-digit growth of its Advisory Services. Chipman played a prominent role in the development of a global strategy and brand for the Grant Thornton worldwide organization and transformed the firm’s marketing organization, increasing brand exposure through traditional and social media channels.