Accountancy giant Grant Thornton has given incumbent CEO David Dunkley a second, four-year term.
The decision to rehire Dunckley to head the professional services giant comes after the firm was fined £2.3m last year over its audit of collapsed café chain Patisserie Valerie.
The City of London auditor was also fined a further £1.3m last year, over it audit of bankrupt construction contractor Interserve, which collapsed into administration in 2019.
Dunckley was made head of Grant Thornton in 2018, after the auditor’s former CEO Sacha Romanavitch was forced to resign from the firm following a partner revolt.
After taking on the position CEO in 2015, Romanavitch became the first ever woman to head one of the City of London’s big accountancy firms.
Romanavitch was forced to step down from her position, after partners in the firm accused her of having a “socialist agenda,” in response to her decisions to introduce a profit-sharing scheme for staff and to cap her own pay.
Dunckley first joined Grant Thornton in 1998, following a four-year stint at mid-sized accountancy firm Rawlinson & Hunter after he graduated with a degree in sports science from Loughborough University.
Grant Thornton has achieved consistently strong results under Dunckley’s leadership, in posting double-digit growth over the past few years.