David Larocca succeeds Tony Johnson at helm of EY
EY’s regional leadership team has elected Sydney-based David Larocca as the firm’s next CEO for Oceania.
In January this year current CEO and 34-year company veteran Tony Johnson announced he would step down to move on to the “next phase” of his career. He added that it was the right time to pass on the baton to a new leader – “the business is in a great position, with tremendous momentum and a strong and positive culture… this is right time for a change.”
Following a due diligence on potential candidates – including the feedback of more than 100 partners and interviews with senior partners conducted by Asia Pacific Managing Partner Patrick Winter – David Larocca has come out on top as the winner of the selection process. The appointment has since been approved by EY’s Global Executive Committee.
The 47-year-old Larocca will take over from Johnson at the start of July and lead a team of over 7,000 professionals working from offices in Australia, New Zealand, Papua New Guinea and Fiji. Across Oceania, EY generates fee income of more than $2.1 billion.
Larocca is a member of the EY Oceania Executive Leadership Team for the last five years and the managing partner of EY’s 800-strong Oceania Strategy and Transactions business, which spans the firm’s Deals, Corporate Finance and EY Parthenon (which includes Port Jackson Partners) businesses, among others. He has been with the firm since 2003, having previously worked for arch-rival PwC and Westpac.
Commenting on his appointment, the CEO elect wrote in an email sent to staff: “We have great people at EY and I feel privileged to have been selected to lead our firm in Oceania.”
“I am incredibly proud of how we have navigated through Covid-19, supporting our people, clients and our business. We have the foundations to now play an important leading role through this next phase of change and growth as we look to deliver long-term value for our people, clients and society.”
Patrick Winter, Asia Pacific Managing Partner said: “David is well placed to take over the role. Specialising in infrastructure, he has over 25 years’ experience advising government and private sector clients on infrastructure transactions in Australia, Asia and Europe. More recently he has been focused on the transport sector, advising clients on public transport, motorways and airports.”
“He is an outstanding advocate for diversity and inclusion and has championed programs to encourage more women into the profession. He is an excellent choice to lead EY as it continues its purpose to build a better working world.”
As part of his new role, Larocca will become a member of EY’s Asia-Pacific Area Operating Executive and its Global Practice Group.
Earlier this month, Deloitte’s CEO for Australia Richard Deutsch announced he will step down prematurely citing the “personal cost” of navigating recent challenges as his reason for departing the role.
