BackPunit Renjen appointed as Deloitte’s global head
Renjen, who succeeds Barry Salzberg as CEO, will take charge from 1 June
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New Delhi: India-born Punit Renjen will take over as the new global chief executive officer of Deloitte Touche Tohmatsu Ltd from 1 June 2015, becoming the first Indian to head one of the so-called Big Four audit firms.
Renjen will succeed Barry Salzberg, who has held the position from June 2011.
Renjen’s appointment was ratified by over 98% of the 5,400 member firm partners, the firm informed employees in an internal communication.
Mint had first reported on 29 January about the proposed appointment.
As CEO of Deloitte Touche Tohmatsu, Renjen will join a growing rank of Indians who head global corporations and financial institutions, including PepsiCo Inc.’s Indra Nooyi, Microsoft Corp.’s Satya Nadella, Deutsche Bank’s Anshu Jain and MasterCard Inc’s Ajay Banga.
Renjen is currently chairman of the board of Deloitte Llp and has been associated with the firm for more than 27 years. He is credited with spearheading the company’s strategy and brand positioning and has closely worked with large multi-national companies, advising them on mergers and acquisitions, strategy and operations.
Deloitte is looking to aggressively expand its business in emerging markets including India. Deloitte’s revenue grew 6.5% to $34.2 billion in the financial year ended 31 May, led by a double-digit increase in consulting revenue.
The Indian arm of Deloitte has been one of the fastest-growing, posting a double-digit increase in revenue in the last financial year. Deloitte’s global network comprises 47 member-firms operating in 150 countries, with some 200,000 people worldwide.
An alumnus of Lawrence School, Sanawar, Himachal Pradesh, Renjen, who hails from Rohtak in Haryana, moved to the US to pursue a degree in management from Willamette University.
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