McKinsey elects Bob Sternfels as new leader following former boss’s ousting
Bob Sternfels has been elected the new global managing partner of McKinsey, making him the 13th partner to lead the firm since its founding in 1926.
The change comes after former boss Kevin Sneader was voted out of his position following a perceived poor handling of a succession of crises.
Sternfels will begin his three-year term at head of the firm on 1 July. Sternfels, who is based in San Francisco, currently leads McKinsey’s client capabilities globally.
He said: “I am honored to be chosen by my peers as the next global managing partner of McKinsey. Working together with my partners and colleagues, I am determined to use this moment to make our partnership stronger, more inclusive and better able to help our clients thrive in a fast-changing world.
“I am also committed to build on the important changes that Kevin helped launch and our partnership embraced—and on the good work our firm does with our clients and in society.”
The new boss has worked at McKinsey for 26 years, joining the firm in San Francisco in 1994.
Last month the Financial Times first reported on trouble at helm of McKinsey. Sneader was reportedly voted out of his leadership role for his handling of crises including US litigation over McKinsey’s advice to opioid manufactures, and its work in autocratic countries around the world.
Sneader added: “Over many years, I have seen first-hand the skill, passion and intellectual curiosity that Bob brings each day to support his colleagues and clients. In leading our client capabilities for the past three years, Bob has consistently pushed our firm to raise our sights, innovate and ensure we can always deliver the best possible advice to our clients.
“I look forward to working with Bob to help our clients thrive, support our people and strengthen our firm and partnership for the future.”