U.S. Member Firm Chairman Punit Renjen will take lead of Deloitte Global June 1
Deloitte Touche Tohmatsu Limited (Deloitte Global) today announced that Punit Renjen, currently Deloitte U.S. member firm Chairman of the Board, has been selected as Deloitte Global’s new chief executive officer. Renjen will assume the new role on 1 June 2015, the start of Deloitte Global’s new fiscal year. The Deloitte network is composed of 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. 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,” said Renjen. “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 (31 May 2015) and become a member of the full time faculty of Columbia Business School as a professor of professional practice. Salzberg also plans to serve on public company boards. Renjen’s leadership appointment is part of a rigorous and comprehensive nomination and member firm partner ratification process that occurs every four years and includes all member firms of the Deloitte worldwide 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 Barry Salzberg, Deloitte Global CEO.
Renjen will join the ranks of just a handful of other Indian CEOs of major global businesses. On the heels of the historic announcement of Cathy Engelbert as the first female CEO of Deloitte US, Renien’s appointment further exemplifies Deloitte’s commitment to diverse and inclusive leadership.
“Beyond serving as a leader in the U.S. member firm, Punit brings unique perspectives on the global business environment, having a true multi-cultural career journey,” said Steve Almond, Chairman. “I am excited to work with Punit as we continue to make significant investments to transform member firm services, including audit, to deliver high quality, meaningful results for clients and raise the bar for the entire profession.”
Prior to his role a U.S. Chairman, Renjen served as Chairman and CEO of Deloitte Consulting LLP in the U.S. During his tenure as U.S. Consulting CEO, the consulting practice experienced tremendous growth despite an ongoing recession, helping Deloitte Consulting LLP become one of the largest consulting providers according to leading analysts’ rankings. Renjen is also a recognized leader in mergers & acquisitions (M&A), assisting clients through the entire M&A lifecycle. Renjen grew up in India and holds a bachelor’s degree with honors and a master’s degree in management with honors from Willamette University.