13 AUG 2024 / PEOPLE UPDATES

Baker Newman Noyes Announces New Leadership Structure Starting January 2025

- MYCPE ONE Insights Team

Summary

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Baker Newman Noyes (BNN), a firm with a FY23 net revenue of $62.2 million, has announced a major overhaul of its leadership structure to be effective from January 1, 2025, following the retirement of its Managing Principal, Dayton Benway. Andrew Smith and Darren Hurlburt will assume the roles of chairperson of the board and president respectively, with a new board of directors being responsible for the company's overall strategy.

Leadership Change

Baker Newman Noyes (BNN), with FY23 net revenue of $62.2 million, has revealed plans to adopt a new leadership structure, effective January 1, 2025.
This shift comes after the announcement in June that Managing Principal Dayton Benway, who has served in the role since 2019, will retire at the end of this year.

New Leadership Roles

Beginning in January 2025, BNN will be guided by a board of directors responsible for the firm's overall vision and strategy.
Andrew Smith, currently the tax principal and director of tax services, will assume the role of chairperson of the board. He will oversee board leadership and manage both internal and external communications for the firm.
The firm will also introduce the new role of president, with Darren Hurlburt, the current CFO and Chief Risk Officer, appointed to this position.
As part of the restructuring, the managing principal role will be retired from the leadership framework.

Statement from Dayton Benway

Benway expressed confidence in the new leadership structure: "I have tremendous confidence in the board to lead the firm, supported by Andy and Darren in their new roles. Over my six years as managing principal, we have strategically grown, adapted to new ways of working, and developed innovative approaches to provide value and build trust with each other, our clients, and our communities. This transition is in line with where our firm is today and how we can best position BNN for the future."

Until next time…

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Baker Newman Noyes Announces New Leadership Structure Starting January 2025

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