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BDO USA Announces New COO
Slice of Finance Team
13 Jun
Key Highlights:
Steve Ferrara retires after 33-year career at BDO USA.
Mark Ellenbogen to succeed Ferrara as COO on July 1, 2024.
Ferrara’s tenure saw 350% revenue growth and establishment of ESOP.
Ellenbogen brings over 30 years of public accounting experience.
Source (Business Wire)
Notable Quotes
“Collaborating with Steve over the last 12 years has been a privilege. Steve has made innumerable and invaluable contributions to the firm, including overseeing remarkable revenue growth of over 350% since 2012 and successfully establishing an Employee Stock Ownership Plan (ESOP) in August of last year. I am confident Mark will build on Steve’s legacy, and his leadership will propel us toward a new chapter of sustainable, people-first growth.”
"Stepping into the COO role is both an honor and an exciting opportunity. I am proud to have been a part of the firm’s successes during the last 22 years and am ready to leverage our past achievements to reach new heights as an ESOP company. I am grateful for Steve's guidance during this transition and the unwavering support of Wayne, the executive team and the board.”
Our Take:
Steve Ferrara's retirement marks the end of a significant era for BDO USA. His contributions have not only driven substantial revenue growth but also positioned the firm for future success with the establishment of the ESOP. Mark Ellenbogen, with his extensive experience and deep understanding of the firm’s operations, is well-equipped to take on the role of COO. His leadership is expected to continue the firm’s trajectory of growth and innovation, particularly in the realm of employee ownership and sustainable business practices. BDO USA's focus on people-first growth aligns well with current industry trends, emphasizing the importance of sustainable and inclusive business strategies.