Jack Weisbaum, chief executive of BDO USA LLP, plans to retire from the firm at the end of October when his second term is finished.

Weisbaum said he would not pursue a third term, but plans to use his time spending time with family and pursuing hobbies. A successor has not yet been named.

“At the January meeting of the BDO USA Board of Directors, Jack Weisbaum informed the board that he will not seek a third term as CEO of the firm,” the firm said in a statement. “He will complete his current term on October 31 of this year. Mr. Weisbaum was elected CEO in 2004 and re-elected in 2008. Mr. Weisbaum’s successor will be determined by a vote of the partnership in late March.”

“The firm is well positioned for the future and poised to take advantage of many opportunities for growth and expansion—it’s a good time to make way for the next generation of leadership to continue moving BDO forward,” said Weisbaum, according to a BDO internal news item and the blog Going Concern. “I am looking forward to enjoying the next chapter of my life while I’m still active and healthy. I plan to travel, pursue my hobbies, be more involved in charity work, and spend more time with my wife and family.”

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