India born Punit Renjen new Global CEO of Deloitte

26 February 2015 3 min. read
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Punit Renjen will, per 1 June 2015, be the next global CEO of Deloitte after his vision for the company won out the firm’s rigorous and comprehensive nomination process. Renjen started life in India before working his way to the top of the international business world.

The rise of Punit Renjen to the top of Deloitte, the globe’s largest professional services firm, started in a small town in India remarked for its ancient architecture. Rohtak is a town in Haryana, some 80 kilometres from New Delhi.

While the town offered his father the opportunity to found an electrical switchgear factory that supported the family, the local educational institutions at the time did not offer the kind of future envisaged for Renjen by the father. At 7, Renjen began attending one of India’s most prestigious and elite institutions, The Lawrence School in Sanawar.

India born Punit Renjen new Global CEO of Deloitte

At 14, however, Renjen was called home when his father’s business went into decline and his steep school fees could no longer be met. The following years saw Renjen work in his father’s factory, before attending local college where he attained a degree in economics.

After his degree, seeking adventure and the next dollar, Renjen chanced upon a newspaper advertisement for Usha International, a manufacturer of home appliances. In his jeans and without a tie, Renjen was accepted into the company. Winning a Rotary Foundation Scholarship in 1984 transformed Renjen’s world from the bustle of Delhi to the calm of Willamette University’s Atkinson Graduate School of Management in Salem, Oregon – this time he showed up with two pairs of jeans. He graduated with an MBA.

After graduation, Renjen then went out on a job hunt that took him from Booz Allen Hamilton to Citibank. Eventually he was head-hunted after a Deloitte partner saw his profile in an inflight magazine. After a lengthy interview process, again in informal garb, Renjen landed at Touche Ross, which, after its 1987 takeover saw him became part of Deloitte. Now after 28 years working for the firm, which included the role of CEO of Deloitte Consulting in its US division, he has finally climbed to stand at its top.

Punit Renjen will take the role of global CEO of Deloitte on 1 June 2015. He will move from his current role as Deloitte U.S. member firm Chairman of the Board, to lead the Deloitte network’s 47 member firms, operating in 150 countries, and employing more than 210,000 people worldwide.

“I am honored to have been elected as Deloitte Global's next CEO. It is a privilege to be part of an organisation that delivers high quality services and innovative solutions to the best clients, develops the most talented professionals into leaders and does its part to improve the societies in which we operate," says Renjen. "We are an organisation led by a purpose – to make a positive, meaningful impact that matters to everyone Deloitte touches. I will do my best to serve the network by helping enable our leaders and people to fulfill their passion to make a difference.”

Renjen succeeds Barry Salzberg after 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. "I can think of no one better to lead Deloitte Global. Punit's experience as chairman of our U.S. firm—the largest and most complex in our network—combined with his 28-year career with Deloitte and strong core values— make Punit the perfect choice to lead Deloitte Global," says Salzberg, the current Deloitte Global CEO. In the coming months Salzberg will gradually transition his role.

Steven Almond, Chairman remarks, "Beyond serving as a leader in the U.S. member firm, Punit brings unique perspectives on the global business environment, having a true multi-cultural career journey. I am excited to work with Punit as we continue to make significant investments to transform member firm services, including audit, to deliver high quality, meaningful results for clients and raise the bar for the entire profession."