Deloitte Global CEO Punit Renjen announces retirement

Deloitte Global CEO Punit Renjen announced his retirement on Monday (October 31). Deloitte Touche Tohmatsu Limited board has announced the name of Joe Ucuzoglu, formerly the head of Deloitte US, as Renjen’s successor.

Renjen was the first Indian-origin CEO to helm a Big Four accounting firm and steered the company to achieve a massive revenue of $59.3 billion in FY22. Seven years back the company’s revenue was just $35 billion.

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The company has offices in over 150 countries and provides employment to 415,000 people.

Deloitte offers services including audit, tax, legal and consultancy to several firms across the world.

Who is Punit Renjen?

Born and raised in Haryana’s Rohtak in 1961, Rejen did his MBA from Oregon’s Willamette University. He worked with Touche Ross which merged with Deloitte in 1989 and had been in the company ever since. He was elevated as the CEO of Deloitte on June 1, 2015.

Before taking over the CEO’s post, Renjen had served as the Deloitte US member firm’s chairman and before that as the CEO of Deloitte Consulting LLP in the US.

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Post his retirement from Deloitte, Renjen will serve as the company’s Global CEO Emeritus.

With Renjen at the helm, the company launched WorldClass – a global initiative to prepare 100 million underprivileged people for a world of opportunities.

“The Deloitte Global Board and I want to thank Punit for leading Deloitte to extraordinary growth and meaningful societal impact and for his decades of commitment to the organisation,” Deloitte Global Board chair Sharon Thorne said.

Ucuzoglu takes over

While Ucuzoglu has been named Renjen’s successor, his candidature will have to be ratified by member firms across 150 country. Reports quoting inside sources said Ucuzoglu will look after the brand’s overall strategy. He is slated to take over the reins of the company in January next year.

Like his predecessor, Ucuzoglu, has an impressive performance history and is known for being responsible for 47 per cent of the company’s global revenues since 2019.

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“Joe is 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,” Renjen said while introducing Ucuzoglu as his successor.