When Punit Renjen hangs it up as Deloitte’s global CEO on Dec. 31, the head of the Big Four firm’s operations in the U.S. is expected to take over.
Joe Ucuzgolu, who has been CEO of Deloitte US since 2019, will succeed Renjen as global CEO on Jan. 1, 2023, pending a ratification vote by all Deloitte member firm partners. That partner vote is expected to occur throughout November, Deloitte said yesterday.
In a statement, Renjen, who has been CEO of Deloitte Global since 2015, called Ucuzoglu “an exceptional leader.”
“We have worked together side by side for many years, and I believe he is an excellent choice to serve as the next Deloitte Global CEO. He has been a member of the Deloitte Global executive team for the last several years, and I am confident that, under his leadership, Deloitte will continue to deliver outstanding results for our people, clients, and the communities in which we live and work,” he said.
It is not known yet who would take over as CEO of Deloitte US if Ucuzoglu does become global CEO, but the last two people in that role—Ucuzoglu and Cathy Engelbert, who is currently the commissioner of the WNBA—were promoted from Deloitte’s audit practice, Deloitte & Touche. The current CEO of Deloitte & Touche is Lara Abrash, who took over in June 2019.
Before being appointed CEO of Deloitte & Touche in 2015, Ucuzoglu was Deloitte’s national managing partner for government, regulatory, and professional matters. He was formerly a senior advisor to the chief accountant at the Securities and Exchange Commission.
Ucuzoglu said it was a great honor to be chosen as Deloitte’s next global leader. He added, “I believe deeply in Deloitte’s responsibility to lead through the unprecedented pace of change the world is experiencing, and to meet the rapidly expanding needs of our stakeholders. I want to thank Punit for his excellent leadership of Deloitte.”
Renjen, who served two four-year terms as CEO of Deloitte Global, will be given the title of global CEO emeritus upon his retirement. During his tenure, Deloitte’s global revenue has increased from $35 billion to more than $59 billion in 2022, the highest of the Big Four firms.
Under Renjen’s leadership, Deloitte launched WorldClass—a global effort to prepare 100 million underprivileged people for a world of opportunity—based on the belief that when society thrives, business thrives. Renjen also spearheaded Deloitte’s WorldClimate initiative, which includes near-term (2030) greenhouse gas reduction goals which have been validated by the Science Based Targets initiative (SBTi) as 1.5°C-aligned, science-based targets.
“It has truly been an honor and privilege to lead Deloitte over the past several years,” Renjen said. “More important than any commercial outcome, I am proud of the incredible societal impact we have been able to make as a purpose-driven enterprise. And I am looking forward to some exciting endeavors, including dedicating time to several societal causes about which I am deeply passionate, including sustainability and climate.”