Today: J. Michael McGuire named CEO-elect of Grant Thornton U.S. http://t.co/LEviUIJtDh pic.twitter.com/qfKWTBpp4f
— Grant Thornton LLP (@GrantThorntonUS) June 2, 2014
Looks like Grant Thornton opted for something other than a Costanza lookalike for their next CEO.
According to a Grant Thornton press release, JMM assumes the role of CEO-elect immediately and will take over for Stephen Chipman on January 1, 2015. Naturally, he's looking forward to it: "I am honored to have the opportunity to lead Grant Thornton,” McGuire said. "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."
How about some background?
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.
To our knowledge, McGuire would be the first Arthur Andersen alum to be CEO of a major accounting firm. C.E. Andrews served as McGladrey's President and Chief Operating Officer while it ws owend by HR Block, so technically he never was CEO of the firm. What? These things matter!
Anyway, this development lines up with the announcement last November that the firm's Board was extending Stephen Chipman's tenure as CEO through the end of 2014. The press release sums up SC's tenure thusly:
[Chipman] was named CEO in 2010 and significant enhancements were made during his tenure — returning the firm to a trajectory of growth and increasing the firm’s revenue by 15 percent during the last two fiscal years. 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 extended the breadth and depth of its services through a number of strategic acquisitions, 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.
Okay, Purple Roses of Chicago — how do you feel about your future fearless leader? Let us know in the comments and if you have some insider knowledge about this development, email us.