India-born Punit Renjen will become the next CEO of US-based accounting giant Deloitte’s global operations. He will assume his new role from 1 June.
Renjen is the latest to join a long list of persons of Indian origin to become global CEOs. Others inlcude Indira Nooyi, Satya Nadela and Anshu Jain, who have made to the top posts at PepsiCo, Microsoft and Deutsche Bank, respectively.
Here are a few facts you need to know about Renjen:
1) Renejen is the first Indian-origin person to head a ‘Big-Four’ audit firm. The Big Four are PwC, KPMG, EY and Deloitte. He has been working with Deloitte for the last 27 years.
2) Renjen hails from Rohtak, Haryana. He grew up in India and did his schooling at Lawrence School in Sanawar, Himachal Pradesh. He has a bachelor’s degree with honours and a master’s degree in management from Willamette University, US.
3) Earlier he was chairman and CEO of Deloitte Consulting LLP. "Under his direction, Deloitte Consulting has been recognized in several leadership rankings by top-tier industry analysts in the areas of mergers, acquisition, divestitures, post-merger integration, strategy, operations consulting and business advisory," said a note on Willamette website yesterday. The Mint reports that Renjen has been credited with growing the consulting business despite the recession.
4) Explaining how Deloitte stands out from the rivals, he said in an interview to Leaders, a quarterly magazine, that Deloitte doesn't compare itself to anybody else for validation or definition. "We are respectful of firms in our profession, but we regard ourselves as leaders of the profession, and we’re unique and special," Renjen said. The aim is to "serve our clients with integrity and distinction", he said.
5) Renjen is considered a leader in M&As, according to this profile on Bloomberg Business. He has facilitated many major M&As in the last 10 years, "helping clients expand into new markets, create new profit streams, and generate cost reductions and savings synergies", the profile said.
6) According to the Mint report, Renjen's appointment comes at a time when Deloitte is aggressively expanding in Asia and emerging markets.
7) Renjen was on of The Top 25 Consultants ranked by Consulting Magazine in 2007. Others on the list that year included Paul Laudicina of A.T. Kearney, Alan Herrick of Sapient, Kris Pederson of IBM, Tata Consultancy Services, and Romil Bahl of Infosys Consulting.
With inputs from PTI
Updated Date: Feb 17, 2015 11:46 AM