EY communicate separation of its businesses

The strategic review of EY’s business areas has progressed and the firm’s Global Executive Committee have decided to go ahead with the vote of the partners to separate into two different and multidisciplinary organisations.

The next steps include continued engagement with partners to provide more information prior to the voting process. EY estimate that this phase will last at least until the end of this year. Country-by-country voting is expected to start in late 2022 and conclude in early 2023.

A spokesperson from EY said: “Having carefully considered various options, we firmly believe we understand the changing landscape to build businesses that redefine the future of our professions, create exciting new opportunities and deliver greater long-term value for EY professionals, clients and communities. EY is proud of its legacy as a leading global professional services organisation. The world is changing and we have to adapt to continue to thrive and reach our full potential, while addressing the needs of all our stakeholders. We hope to get the support of our clients, professionals, partners and interest groups to share our vision of the future that amplifies our purpose of building a better world to work in.”