Ernst & Young’s elected Janet Truncale to lead the Big Four audit firm with a revenue of $49 billion network. In an official statement by London-based accounting giant, Janet Truncale will succeed the current CEO Carmine Di Sibio by next year July 1. She will become the first woman to lead a Big Four firm.
Truncale is currently EY America’s regional managing partner of financial services, which consists of about 14,000 professionals. Truncale closely works with EY clients to build a financial services industry in which customers’ financial goals are attainable, and before that, she was the Managing Partner for America’s FSO Assurance. Truncale’s fresh leadership is poised to face the challenge with a new approach for EY.
EY notified Truncale stating, “I am inspired by the example Carmine has set, instilling an intent to be professional leaders, focusing on staying ahead of the curve in technology and most of all personifying EY values.” to express her enlightenment to lead this amazing organisation ahead with time.
The current CEO Carmine Di Sibio is set to retire next summer. He took over as global chair and chief executive in 2019 and served on the EY Global Executive for the past 11 years. As Global Chair and CEO, he led the development of NextWave with a compounded annual growth rate of 9.5% and additional US $13 billion in revenue over his tenure. He has driven transformative change through bold investments in emerging technology, artificial intelligence and innovation.
Janet Truncale’s biography
Truncale was born in 1970 in New Jersey, America. She belongs to a middle-class-family and was brought up with two siblings. Truncale finished her schooling from Governor Livingston High School, where she excelled in academics and extracurricular activities. Later in 1992, she enrolled into the Wharton School of the University of Pennsylvania, where she received her Bachelor of Science In Economics (BSE). In 1998, she received her Master of Business Administration (MBA) degree from Columbia University.
Truncale started as an intern and spent about 3 decades serving EY in the global financial services industry, providing assurance and consulting services to lead Fortune 500 companies and worked with boards, audit committees and senior management to resolve complex business issues. Truncale helps financial institutions inspire trust and support with their customers by achieving their financial goals and help contribute to the global economic growth. Truncale is a certified public accountant in New York and a member of the American Institute of Certified Public Accountants.
External to EY, Truncale serves as the Board Chair for Women’s World Banking, which is a global nonprofit devoted to giving low-income women access to critical financial tools. She also served as the Board of Directors for UNICEF in the USA, a global organization that defends the rights of children and young people. Additionally, Truncale serves as a managing trustee for Liberty Science Center, a not-for-profit learning center dedicated to inspiring the next generation of scientists and engineers.
Truncale has received the Profiles in Diversity Journal Women Worth Watching Award and was named in the Crain’s New York Business Notable Women in Accounting and Consulting list of 2019 and 2021.