Ernst & Young chief to retire

JAMES Turley, the global chief executive of Ernst & Young, is to retire in June 2013, the group said yesterday.

Turley told the firm’s worldwide partners on 10 November that he would retire at age 58, on 30 June, 2013, the firm said. A replacement will be named by April 2012.

Turley, who became chairman in 2001 and chief executive in 2003, led the firm through stormy times. His tenure started just before the Enron and Worldcom accounting scandals sparked congressional hearings on the profession and led to tough oversight under a new watchdog.