Big four appoints first female CEO

COURTESY OF WIKIMEDIA COMMON The outside of Deloitte’s Chicago office.  The company just appointed its first female CEO, which has caused a splash in the business world.

COURTESY OF WIKIMEDIA COMMON
The outside of Deloitte’s Chicago office. The company just appointed its first female CEO, which has caused a splash in the business world.

Nick Varriano
Business Correspondent

Many business students on campus at The University may be interested in working for one of the “Big 4” accounting firms. For those who are not familiar with these accounting firms, they are PwC, KPMG, Ernst & Young and Deloitte. These firms are large international service networks and they handle auditing and tax services, as well as other financial endeavors. In fact, the Big 4 audits approximately 90 percent of all financial companies. These accounting firms provide jobs to thousands of people.

Interestingly, Deloitte has recently made history. It announced Tuesday that it has appointed the first female CEO in the history of the Big 4. Cathy Engelbert will offically assume the role of chief executive officer March 11 and will be in charge of Deloitte’s 65,000 employees. One of her goals is to increase the company’s work force to reach approximately 74,000 employees. The voting process occurs once every four years and requires the candidates to be nominated. They must also win approval from two-thirds of the voting partners.

Previously, Engelbert worked as the chairman of Deloitte’s accounting, auditing and risk advisory departments. She is undoubtedly very qualified for the position and she has worked with Deloitte for nearly 30 years. She received her B.S. in Accounting from Lehigh University, and she even played basketball and lacrosse. Since her appointment, she has served as a positive role model to many in the business world, especially women.

“It is a proud moment and a milestone. To the extent that I can be a role model for diverse leaders at Deloitte, I love it. This is a tangible demonstration of our commitment at Deloitte to the advancement of women. I have gotten so many emails from our women and men who really believe that we have an inclusive culture as proven through my election,” Englebert told Fortune.

The business world is often criticized for being male-dominated. In fact, out of all the CEOs working in large companies, only 4.2 percent of them are women. Engelbert is helping to break this mold and shift the stereotype. Her accomplishment shows that everyone deserves an equal chance, regardless of factors such as gender or ethnicity. Her example proves that hard work and dedication, not gender, will get you promoted in a professional atmosphere. This perfectly represents the morals and principles of a Jesuit university.

Feb. 13, 2015

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