We've clearly got an Above Top Secret member hanging around the tip box this afternoon:
The real unanswered question regarding Echevarria at Deloitte – I can understand that he wanted to announce that he did not want to stand for re-election (possibly he heard from insiders that he wouldn't get re-elected) the real question that i have is the timing of his retirement – why didn't he announce his stepping down and stay until the new (white) guy gets elected. Puts the firm in a holding pattern for way too long. Why so soon Joe? Sure stuck it to the firm, way to go!!
My esteemed colleague Colin already mentioned that any change in leadership involves a metric shit ton1 of "speculation, back-door bickering, speculation, alliances, betrayal and more speculation." What he strangely neglected to mention was how odd it is that Joe Echevarria was so anxious to get started on his future in public service that he basically up and left Deloitte without so much as a proper farewell email.
As we know, Joe hasn't been around that long. And he's not even close to mandatory retirement age. And, obviously, no one loves public service that much.
Now, Joe's time as Deloitte CEO has been pretty great for the Big D except for that awkward situation with the 82-year-old real estate broker Joe and his wife screwed on the sale of their New York mansion shortly after Joe was promoted to CEO. But NBD, right? Sure it reflected poorly on Las Echevarrias but we all know real estate — especially New York City real estate — is a pretty cut throat market and shit happens.
That whole deal was put to bed over a year ago with $110,000 paid to the broker and let no one speak of this again. Cool.
“While difficult to leave the firm I have called home for my entire career, I have determined that this is the right time in my life to pursue my passion for public service,” Echevarria said in the statement announcing his retirement. “It has been an honor and a privilege to be a partner at Deloitte.”
And yet, the guy pretty much up got up and walked out. Sure CFO and now-CEO-because-Echevarria-was-like-I'm-out-bitches Frank Friedman is more than qualified to steer the ship until the formal election process smokes out an "official" CEO but how would you like to finish your audit if your manager just walks out? Yeah, that's what I thought.
Please feel free to float your wild and unsubstantiated theories as to why Joe packed his crap and bailed in such a hurry in the comments. As always, if you are a person familiar with the matter (read: snitch) and would like to share with the class, do get in touch.
It's entirely possible there is nothing nefarious at work here but as we all know, wild speculation is the fun part of this so let's commence to wildly speculating.
1 unaudited, based on estimates