Punit Renjen (Deloitte)
India-born Punit Renjen was appointed the next CEO of U.S.-based accounting giant Deloitte’s global operations, becoming the first Indian-origin person to head a ‘Big-Four’ audit firm. A Press Trust of India report.
Renjen joins a growing list of persons of Indian origin like Indira Nooyi, Satya Nadela and Anshu Jain, who have made to the top posts at multi-billion dollar global corporations like PepsiCo, Microsoft and Deutsche Bank, respectively.
Deloitte, which is present across 150 countries including India and employs over two lakh people, is one of the four largest audit firms in the world and competes with PwC, KPMG and EY.
Hailing from Rohtak, Haryana, Renjen will assume his new role of Deloitte Global Chief Executive Officer from June 1.
He will succeed Barry Salzberg in this role and is currently serving as U.S. business Chairman and CEO of the group.
“I am honored to have been elected as Deloitte Global’s next CEO,” Renjen said in a statement.
“Renjen’s leadership appointment is part of a rigorous and comprehensive nomination and member firm partner ratification process that occurs every four years and includes all member firms of the Deloitte worldwide network,” Deloitte said.
Renjen, who has been with Deloitte for over 27 years, grew up in India and holds a bachelor’s degree with honors and a master’s degree in management from Willamette University, U.S.
Renjen did his schooling at Lawrence School, Sanawar, Himachal Pradesh, after which he left for the U.S. to pursue higher studies.
He has held a number of leadership positions, including chairman and CEO of Deloitte Consulting LLP. In addition to being chairman of Deloitte LLP, he currently also serves as a member of the board of directors of Deloitte Touche Tohmatsu Limited (Deloitte Global), and as chairman of the Deloitte Foundation board of directors.
His new role would begin on the first day of Deloitte’s new fiscal year on June 1, 2015.
Outside of Deloitte, Punit is a member of the boards of directors at United Way Worldwide and the U.S.-India Business Council.
He was named an honoree to the 2012, 2013, and 2014 National Association of Corporate Directors’ ‘Directorship 100’ and was named a ‘Top 25 Consultant’ in 2007.
Renjen has held a number of leadership roles within the Deloitte network, including CEO of Deloitte Consulting LLP in the U.S. member firm. During his tenure as U.S. Consulting CEO, the consulting practice experienced tremendous growth despite an ongoing recession, helping Deloitte Consulting LLP become one of the largest consulting providers.
He is credited with helping large MNC clients in various industries address a range of issues, including M&A, strategy, and operations improvement. The sectors he has worked in include energy, utilities, and telecommunications industries.
Renjen had moved to the U.S. after winning a Rotary Foundation Scholarship to Willamette University, where he earned a Master’s degree in management. He now serves on the board of trustees of Willamette University.