Deloitte Touche Tohmatsu Ltd. has appointed Punit Renjen as global CEO of the Big Four international accounting firm network.
Renjen is currently chairman of the board at Deloitte LLP, the U.S. member firm of DTTL. Deloitte LLP recently announced the election of Cathy Engelbert of CEO, making her the first woman CEO of a Big Four firm in the U.S. (see Deloitte Elects First Female CEO and Interview: Deloitte CEO Cathy Engelbert Shatters Glass Ceiling at the Big Four). Similarly, Renjen will be joining a handful of other Indian CEOs of major global companies, such as Satya Nadella of Microsoft.
Renjen will take over the CEO role on June 1, 2015, the start of Deloitte Global’s new fiscal year. The Deloitte network includes 47 member firms, operating in 150 countries, and employing more than 210,000 people worldwide.
“I am honored to have been elected as Deloitte Global’s next CEO,” Renjen said in a statement Monday. “It is a privilege to be part of an organization that delivers high quality services and innovative solutions to the best clients, develops the most talented professionals into leaders and does its part to improve the societies in which we operate. We are an organization led by a purpose to make a positive, meaningful impact that matters to everyone Deloitte touches. I will do my best to serve the network by helping enable our leaders and people to fulfill their passion to make a difference.”
Renjen succeeds Barry Salzberg, who will retire from Deloitte Global at the end of its fiscal year on May 31 and join the full-time faculty of Columbia Business School as a professor of professional practice (see Deloitte Sees Record Growth Internationaly in 2014). Salzberg also plans to serve on public company boards.
Renjen’s appointment came after a nomination and partner ratification process, which happens every four years and includes all the member firms of Deloitte's global network.
“I can think of no one better to lead Deloitte Global. Punit’s experience as chairman of our U.S. firm—the largest and most complex in our network—combined with his 28-year career with Deloitte and strong core values— make Punit the perfect choice to lead Deloitte Global,” said Salzberg.
Renjen will remain with the Deloitte U.S. firm until he transitions to the role of Deloitte Global CEO.
Prior to his role becoming chairman of Deloitte LLP, Renjen served as chairman and CEO of Deloitte Consulting LLP in the U.S., which experienced tremendous growth despite the recession. Renjen has also been active in the mergers & acquisitions area, assisting clients through the M&A process. He grew up in India and holds a bachelor's degree with honors and a master's degree in management with honors from Willamette University in Salem, Ore.
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