The Strategist

McKinsey changes the company's head after several scandals


03/11/2021 - 02:52



One of the world's largest consulting firms, McKinsey, has announced that Bob Sternfels has been elected as the new global managing partner, the de facto head of the company.



pixabay
pixabay
He will succeed the current head of McKinsey, Kevin Sneader, on 1 July 2021. Mr Sternfels, like the previous heads of the company, will be contracted for three years. He has worked at McKinsey for 26 years; at the time of his election, Mr Sternfels was head of the firm's San Francisco office.

At the end of February, American media wrote that the partners of McKinsey voted against the election of Mr. Sneader for the second term. Even back then, the news was perceived as "shocking": Kevin Sneader had become the first McKinsey global managing partner in 45 years who failed to be re-elected for a second term. Some of his predecessors have served three or four terms, but at least all the five previous heads of the company have been re-elected for the second term.

Although the statement on the election of the new head does not mention any problems with Mr Sneader, US media noted that the decision was prompted by several scandals involving McKinsey. These scandals themselves occurred before Kevin Sneader's appointment, but the company has had to answer for them. The scandal in question is related to the consulting firm's role in the opioid epidemic in the US, as well as McKinsey's work with controversial clients.

source: wsj.com




More
< >

Monday, June 14th 2021 - 04:16 Early career: Simple advice for a head start