Succession planning

Wolters Kluwer Tax & Accounting said Monday that Mike Sabbatis will step down as president and chief executive of the CCH business unit, making way for Karen Abramson, who will fill the role in September.

Michael Bernstein succeeds Martin Greenberg

Two employees from Anderson ZurMuehlen & Co. PC, a multi-office firm based in Helena, Mont., with 240 employees. Generation X senior software engineer Luke Muszkiewicz, born in 1978, and Baby Boomer shareholder Kevin Kelley, born in 1949, shared their views on the following question: "How important is employee coaching to the success of the firm?"

Online insurance company Insureon said it now offers business insurance coverage to help small accounting firms with succession plans, online filing risks, and other forms of liability insurance.

Top 100 Firm Postlethwaite & Netterville's Melissa Peroyea receives Health Care Leadership Award

Information Technology Alliance president Ron Eagle announced at the organization's spring collaborative meeting in Fort Lauderdale, Fla., earlier this month that he would not be renewing his contract as president, effective Sept. 1, 2012.

Central to any functional succession plan is a focus on the clients, and seamlessly transitioning those relationships from one partner to the next.

The general administrator role takes manyforms: office, human resources, marketing or IT manager; chief operating officer; firm administrator - and even managing partner. But firms, especially smaller ones, should consider a consolidation of these operations to save the necessary partner time to grow their practices.

Succession planning, recruiting, M&A and developing top talent and pricing pressures were among several front-burner issues that came to the forefront during a roundtable discussion by members of the Advisory Board.

A new survey finds that 77 percent of business owners say they started their companies to provide for their families, yet less than half of them feel confident with their current financial situation.

Faced with the confluence of a still uncertain economy, ongoing fee and margin pressures, torrid competition for clients, and new business and the continual challenge to sustain growth, running some of the nation's top accounting firms has undoubtedly caused a number of sleepless nights for more than one managing partner.

Accounting firms typically have multiple partners, some of whom may want to retire or move on in the near future, and others who want to stay longer.

James Turley, the global chairman and CEO of Ernst & Young since 2001, said he plans to retire at the end of June 2013.

IMGCAP(1)]Accounting firms typically have multiple partners, some of whom may want to retire or move on in the near future, and others who want to stay longer.

The former and current managing partners of super-regional CPA and business advisory firm Plante Moran have released “Succession Transition: A Roadmap for Seamless Transitions,” a book that offers an inside view of strategies to cultivate staff members into leadership positions.

The International Federation of Accountants has begun an executive search for a CEO to succeed incumbent Ian Ball, whose contract expires in February 2013 and who is not seeking another term.

IMGCAP(1)]The recent announcements by Apple CEO Steve Jobs and University of Tennessee women’s basketball coach Pat Summitt of their battles with illness remind us of the dramatic impact that one individual can have on an organization.

With the early waves of Baby Boomer partners retiring or getting ready to hand over the keys to the firm, a diverse panel of partners and firm owners said constant communication with high-potential staff about growth opportunities, coupled with making firms appealing to younger professionals via investing in cutting-edge technologies, will serve to ease transition issues with regard to leadership succession.

Accounting Transition Advisors, a consulting firm that provides succession, transition, and merger and acquisition services to accounting firms, has partnered with a trio of Canadians to expand its services across the border.