Join 250,000+
professionals today
Add Insights to your inbox - get the latest
professional news for free.
- Just 1 email every week
- 3-min easy reads
- Uninterrupted updates
Join 250,000+
professionals today
Add Insights to your inbox - get the latest
professional news for free.
BDO USA Appoints New Chief Operating Officer
Join our 250K+ subscribers
Join our 250K+ subscribers
Subscribe10 JUN 2024 / PEOPLE UPDATES
Steve Ferrara, the current COO of accounting and advisory firm BDO USA, is set to retire after a 33-year career, making way for Assurance Principal Mark Ellenbogen to take over as of July 1, 2024. Ferrara's leadership saw the firm's revenue grow over 350% since 2012, while Ellenbogen, who has over 30 years of experience in public accounting, played a key role in the growth and management of the Audit & Assurance practice.
BDO USA, a leading accounting and advisory firm, has announced that Steve Ferrara, the current Chief Operating Officer (COO), will retire following a distinguished 33-year career with the firm. Effective July 1, 2024, Assurance Principal Mark Ellenbogen will succeed Ferrara as COO.
About Steve Ferrara:
Steve Ferrara has been instrumental in BDO USA's growth and success over the past three decades. Under his leadership, the firm experienced remarkable revenue growth, increasing by over 350% since 2012. Additionally, Ferrara played a pivotal role in establishing the Employee Stock Ownership Plan (ESOP) in August 2023, reflecting the firm's commitment to its people.
About Mark Ellenbogen:
Mark Ellenbogen brings over 30 years of experience in public accounting, with more than two decades at BDO USA. He has a deep understanding of the firm's operations and has been pivotal in the growth and management of the Audit & Assurance practice, working with clients across various industries. As a BDO USA board member, Ellenbogen chaired the Governance Committee and was instrumental in establishing the ESOP, closely collaborating with Ferrara, CEO Wayne Berson, and the leadership team during this transformative period.
Firm's Perspective:
CEO Wayne Berson expressed gratitude for Ferrara's contributions, stating, "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." He also welcomed Ellenbogen's appointment, noting, "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."
Ellenbogen expressed enthusiasm about his new role, stating, "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."
This leadership transition underscores BDO USA's commitment to continuity and growth, ensuring the firm remains well-positioned to serve its clients effectively in the evolving accounting landscape.
Until next time…
Don’t forget to share this story on LinkedIn, X and Facebook
📢MYCPE ONE Insights has a newsletter on LinkedIn as well! If you want the sharpest analysis of all accounting and finance news without the jargon, Insights is the place to be! Click Here to Join
-1748526338.webp)
-1748525774.webp)
