Leadership Lessons From Janet Truncale: Navigating EY As The First Female Big Four CEO

Janet Truncale has amassed over 30 years of experience with EY, formerly Ernst & Young, which is a multinational professional services network. It’s also one of the Big Four accounting firms that caters to consulting, tax, assurance, and transactions. Globally, their reach surpasses 150 countries.

Janet made history as the first female Big Four CEO in 2024. This major leadership role globally places her at the top of an organization where she leads over 400,000 people, and oversees more than $51 billion in revenue, according to World Economic Forum.

“As the beneficiary of tremendous mentors and sponsors, I am committed to developing the future generation of EY leaders,” Janet said in her EY bio.

According to EY, Janet has a bachelors degree in economics from The Wharton School of the University of Pennsylvania and an MBA from Columbia University. She is also a Certified Public Accountant (CPA) in New York and a member of the American Institute of Certified Public Accountants.

There is work to be done as Janet comes in after the failed “Project Everest,” which would have split the firm’s consulting and audit practices. Though very ambitious, this setback acquired a significant debt.

As a result of its failed spin-off plan, EY found itself shouldering a debt of over $700 million. This debt was incurred in its global operating business and was primarily associated with the expenses related to Project Everest.

Janet’s approach is “All in,” meaning the firm’s 400,000 employees globally are all in and onboard with her agenda. This initiative is different than EY’s leadership from prior operations.

Accountancy Age says Janet believes that by streamlining the organization empowerment in EY, regional and local leaders allow them greater autonomy and flexibility to respond to the unique needs of their markets.

Janet isn’t all work and no play. She is a wife and mother to three children. According to She The People, Janet spends her weekends at home in Vermont, cooking and entertaining her family.

Janet is making her mark not only in the EY sphere but also globally as she navigates throughout the company, creating change. Prioritizing slimming down central bureaucracy will create a space for others to speak who have felt speechless under layers of higher-ups.