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The chair of EY UK Hywel Ball has reportedly told partners at the firm that he intends to step down from his post, according to the Financial Times.
In an email to partners on Wednesday (13 June) morning, Ball said the time had come to “hand on the baton” to someone else.
He has led the firm since 2020 but has spent his whole career at EY since 1983.
Ball was a strong supporter of Project Everest, the plan to split up EY’s consulting and audit arms.
However, the plan fell through last April as a result of infighting, despite the firm spending about $600m (£470m) preparing for it.
EY has confirmed to Accountancy Today that it will begin the selection process for a successor in the second half of this year.
It also confirmed that in line with the FRC Audit Firm Governance Code, the role of UK chair and managing partner will be separated going forward.
