Romanovitch plans to step down as CEO at Grant Thornton
15 Oct 2018
Grant Thornton has announced that current CEO Sacha Romanovitch is to step down later this year following the identification of a successor, after she decided to not stand for re-election for a second term
15 Oct 2018
The firm says that a new CEO will be appointed before the end of 2018 following an election process in accordance with the firm’s membership agreement.
Romanovitch said: ‘It has been a privilege and an honour to lead this firm. I am proud of what we have achieved in the market, with our people and with our clients, breaking the mould in so many ways. We have attracted so many talented people and great clients to our firm due to our purpose and what we stand for.
‘As we enter the next phase of our plans, following discussions with Grant Thornton’s Board, we have agreed that the time is right for a new CEO to take the firm forward. I will be working to support a smooth transition to our next CEO, focusing on continuing to deliver sustainable value for our clients through our diverse and talented team.’
Last month, an anonymous note was sent to various media outlets setting out a list of criticisms of Romanovitch and her leadership team. Along with the note, a copy of Romanovitch’s most recent performance review was sent, which breached the firm’s data protection rules.
At the time, a spokesperson for Grant Thornton said: ‘It is very disappointing that an individual partner has chosen to display a lack of professional judgment and contravene data protection laws, by sending an anonymous letter to media outlets, including personal information about Grant Thornton employees.
‘Our firm’s governance structures are such that there are multiple official channels and forums for partners and employees to share their views and feedback. In addition, we take any data breach very seriously and are investigating.’
Romanovitch FCA was elected as CEO of Grant Thornton by the Board in 2014. Before this she was a partner lead on people and culture from 2008 to 2015 after being made partner at the firm in 2001.
Ed Warner, chair of the partnership oversight board at Grant Thornton commented: ‘In Sacha’s four years leading Grant Thornton her focus has enabled the Firm to establish a distinctive position in the market. She has been an inspiring CEO attracting great people to our Firm and what we stand for. Crucially, Sacha has established a platform which will drive sustainable and profitable growth.
‘Following discussions with Sacha, the Board has agreed that a new CEO is the logical next step to create long term sustainable profits for the Firm. We are grateful for the innovative and inspiring work Sacha has done and will work with her to support the newly elected CEO and ensure a smooth transition.’
Report by Amy Austin