EY Nears Historic Leadership Shift with Women Dominating CEO Shortlist

In a potential milestone for the professional services industry, EY could soon see its UK division appoint its first-ever female Chief Executive. Following the landmark appointment of Janet Truncale as global CEO in 2023—making her the first woman to permanently lead one of the Big Four accounting and advisory firms—EY now appears poised for a similar breakthrough in the UK.

EY’s UK arm, its second-largest operation globally after the US, has never had a woman in its top leadership position. However, with two out of three candidates on the shortlist being women, the tide may be about to turn. The equity partners were recently informed via webcast that the three contenders for the role of outgoing UK boss Hywel Ball are Anna Anthony, Managing Partner for Financial Services; Kath Barrow, Assurance Managing Partner; and Stuart Gregory, Managing Partner for Finance and Transformation.

If a woman is selected, it would mark a major first for the Big Four in the UK, although discussions about female leadership are not new. In 2021, Mary O’Connor temporarily led KPMG’s UK practice after Bill Michael’s controversial departure, but she was passed over for the permanent position in favor of Jon Holt. Earlier in 2024, PwC also considered two women for its top role, only to eventually choose Marco Amitrano as UK and Middle East chief.

However, EY’s leadership selection process differs from that of PwC. While PwC allows all partners to vote, EY’s decision involves input from an elected partner forum, along with final approval from its global leadership team. This distinct process may lead to a different outcome.

An EY spokesperson confirmed that the firm is in the midst of a thorough process to select the next UK & Ireland managing partner, with soundings being conducted with around 200 of its 930 UK equity partners. The firm is also running a separate process to appoint a new chair, as EY plans to split the roles of managing partner and chair.

This leadership transition comes at a critical time for EY. The firm is seeking to stabilize after the collapse of a costly initiative to separate its audit and advisory divisions, which caused considerable internal disruption. In the wake of this failed split, EY has faced market challenges, leading to pay freezes, reduced bonuses, and job cuts. The new leadership team will be tasked with navigating these headwinds and charting a path forward for the business.

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