deloitte: Deloitte India ready to elect new CEO

The election signal was sounded at Deloitte in India as the company begins the process of electing its new CEO for a four-year term beginning April 1, 2023.

Two senior partners, Rohit Mahajan, Head of Risk Advisory, and Romal Shetty, Head of Consulting, are said to be in contention for the role, which will require the trust of the other partners.

The new CEO will replace N Venkatram who has been at the helm for eight years. The company is finalizing the committees that will oversee the election process.

Every four years, top companies, including Deloitte, PwC and KPMG in India, conduct an election process to elect their country chief.

At Deloitte, the process is a bit more complicated than at the other two companies. “The firm will initially appoint a Selection and Nominations Committee, which will include some of Deloitte’s senior and distinguished leaders. These leaders will then interact with all Indian partners in turn,” said one of the people on the development.

Insiders say that 5-6 top executives who are eligible are considered by the nominating committee for the top job.

The main purpose of the committee is to assess what the Indian partners think of the potential country manager for the company.

These partners can either propose a name or present their own name to the committee.

“The committee would then go back to all the partners by name and try to find consensus. When that is achieved, the new India chief will be announced,” the person said. In most cases, partners who want to run for election will start gathering support from other partners early on.

Interestingly, both candidates, Mahajan and Shetty, are former KPMG executives.

Deloitte has not responded to a request sent via email.

The new head will have a transition period of 2-3 months during which he will be handed over by the outgoing CEO. Venkat transformed Deloitte from an audit-heavy firm into a multidisciplinary powerhouse that is now the fastest growing Big Four in India. During his tenure, he made two significant acquisitions that helped expand Deloitte’s service portfolio. In the largest movement of people within the Big Four in India, he brought over 20 partners and 300 advisors from KPMG India in 2016 and the tax practice of BMR Advisors in 2017.

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