Bloomington, Minn. (June 13, 2003) -- Tom Rotherham, president and chief executive at tax and business-consulting firm RSM McGladrey, and one of the architects of the McGladrey & Pullen merger with tax prep giant H&R Block, announced that he would leave the concern based here after more than three decades, effective August 1.
A successor has not been named.
“In an era where news of CEOs leaving national firms usually means something well beyond that, I think Tom just felt that after 32 years it was time to try something else,” said noted industry consultant Allan Koltin of Chicago-based PDI Global Inc.
Rotherham joined the firm of McGladrey & Pullen in 1970 and six years later, was named partner. He rose to managing partner and in 1999, engineered the merger of the firm’s tax and consulting services into H&R Block.
RSM McGladrey Inc. was subsequently established as an indirect, wholly owned subsidiary of H&R Block. Due to regulatory requirements, McGladrey & Pullen was maintained as a separate public accounting entity providing audit and attest services, and certain tax-compliance services.
The combination of RSM McGladrey/McGladrey & Pullen, which are linked via that alternative practice structure, ranked No. 6 on Accounting Today’s 2003 Top 100 firms list with revenues of roughly $585 million.
“Tom's presence will be missed,” said Steve Tait, president of RSM McGladrey Business Services. “His mark is seen on everything - from the deal with H&R Block that he helped to engineer in 1999, to the changes in our compensation system that he championed to the stronger RSM International board that he rejuvenated.”
-- Bill Carlino
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