Please ensure Javascript is enabled for purposes of website accessibility
September 24, 2023

Suddenly Cognizant of Mandatory Retirement Age, EY Global CEO Carmine Di Sibio Is Stepping Down

This just in: Carmine is gonna head out.


On Tuesday, Di Sibio made it clear he did not intend to step down immediately, but would instead oversee the organisation through a long transition lasting until the end of the next financial year in June 2024.

In a partner webcast, he said he planned to leave “having reached the EY mandatory retirement age”.

His initial four-year term was due to expire this month but EY had extended his tenure for two years, allowing him to continue beyond the firm’s retirement age of 60 so that he could oversee the split, which he had argued would become a blueprint for other Big Four firms.

Carmine reached the peak of his EY career in early 2019 after the retirement of GC favorite and Kenny Powers lookalike Mark Weinberger. All seemed well until someone got the bright idea to separate audit and consulting last year.

Had the Project Everest split gone forward, Carmine was set to be head of the liberated consulting business. As we know, that never materialized. Only days ago, Di Sibio said in a Bloomberg Markets Europe appearance the firm would likely revisit the split in a few years.

A successor is expected to be named in November.

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

Yellow dog on a sunny autumn day

Friday Footnotes: Remembering Legend Sid Kess; Andersen’s Doing Great; Poland Banned Deloitte From Auditing? | 9.22.23

People Ken Miller set to retire after more than three decades of service [Virginia Tech] After more than 35 years of dedicated service to Virginia Tech, Ken Miller has announced his retirement. Miller was appointed vice president for finance in April 2020 and also serves as the university treasurer. In these roles, he provides financial […]

illustration of a group of people leaving their jobs

Now the Profession Is Losing Experienced Accountants Too

Here we are again talking about the accountant shortage. Don’t blame me, blame WSJ. Mark Maurer at Wall Street Journal wrote today about a young man named Omer Khokhar who realized after six years in accounting that he was done. The article title: “Job Security Isn’t Enough to Keep Many Accountants From Quitting.” Ruh-oh. The […]