Big Four firm is planning to split its audit and consulting units
While the headline points of the split have been agreed, the thornier details will be delegated by firm’s global executives to the new committee. It will have about 10 members and bosses are considering appointing a person independent of both businesses to adjudicate in the event of a deadlock, according to people with knowledge of the planning.
EY has yet to announce who will head either the audit or consulting business after the split but Di Sibio is widely expected to run the advisory arm. The new governance committee could adjudicate on matters such as the allocation of real estate and intellectual property between each side, said one of the people familiar with the plan. Certain key details of the transaction will also still need to be decided after the partner votes.
Separately, three retired partners in France are also agitating for a cut of the proceeds from the planned spin-off of the consulting arm, which they say would reflect their contribution to building the business.
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