Arthur Andersen reveals new CEO
Arthur Andersen today named New Yorker Joseph Berardino as its new chief executive officer - ending the five-month hunt for a successor to interim managing partner Louis Salvatore.
The firm stuck to its word with the announcement of Berardino to the elected position – which holds a four-year term – just weeks after revealing it would be filled by an internal appointment.
Berardino, who will also serve as managing partner-chief executive of Andersen Worldwide, previously held the position of managing partner for Andersen’s assurance and business advisory practice in North America.
Referring to the firms recent split from Andersen Consulting – now rebranded Accenture, Berardino, said: ‘This is a great time to lead Arthur Andersen and I look forward to working with my partners and our people to continue to grow our firm. I am also determined that our firm will continue to be in the forefront as visible advocates for the investor and the public good.’
Berardino has already identified early priorities in his new role, which include creating more career paths, rewards and recognition for Andersen staff. To support his aims, Berardino has created a five-person global executive team including the CEO position.
UK managing partner Philip Randall will become the managing partner of global operations. He will be joined by Kay Priestly, Thomas Elliott and Xavier de Sarrau.
Berardino, 50, joined the firm in 1972 and was admitted to partnership in 1982. He is a member of the firm’s board of partners, the executive council for the US practice and the leadership council for the Metro New York practice.
Before his appointment, Louis Salvatore took over the interim role after Jim Wadia resigned at the conclusion of arbitration in August, after three years in the role.
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