Deloitte US has appointed Cathy Engelbert as its new chief executive officer, to replace Joe Echevarria, and breaking the trend of male-only CEOs among 'big four' firms.
Engelbert has been with the US auditing chapter of Deloitte LLC, Deloitte and Touche LLP, for almost 30 years. Most recently, she served as the firm’s chairman CEO.
“I’m deeply honored to lead Deloitte,” she said. “I look forward to collaborating with all our people to continue to lead our profession in quality and innovation. Together, we make an impact that matters every day for our clients, the capital markets, communities, and society.”
Frank Friedman, who has been acting CEO and will now become the company’s chief operating officer, said he supports Deloitte’s choice both to promote Engelbert and to hire minorities in other roles.
“In electing the first female CEO in the industry, Deloitte continues to lead in fostering inclusive leadership. Deloitte was also the first professional services firm to elect a minority CEO, woman chairman of the Board, and minority chairman,” he said.
Engelbert is expected to step into her new role next month.