Carmine Di Sibio

Carmine Di Sibio is an American business executive who served as the Global Chairman and Chief Executive Officer of the multinational professional services network Ernst & Young from 2019 until 2024. He led the organization through a period of significant transformation, including a high-profile, ultimately abandoned plan to separate its audit and advisory businesses. Di Sibio's tenure was marked by a focus on technology investment and navigating complex global regulatory landscapes.

Early life and education

Carmine Di Sibio was born in 1962 in New York City and grew up in Westchester County, New York. He attended Iona Preparatory School before pursuing higher education at the University of Notre Dame, where he earned a Bachelor of Science degree in accounting. Following his undergraduate studies, Di Sibio furthered his education at Harvard Business School, graduating with a Master of Business Administration.

Career at EY

Di Sibio joined the professional services firm Arthur Andersen after completing his MBA, beginning his career in the financial services advisory practice. Following the dissolution of Arthur Andersen in the wake of the Enron scandal, he and his team transitioned to Ernst & Young in 2002. At EY, Di Sibio held numerous leadership roles, demonstrating a strong focus on the financial services sector. He served as the Managing Partner for the Americas Financial Services Office and later ascended to the role of Global Managing Partner – Client Service, overseeing the firm's largest global accounts and driving its integrated service strategy across assurance, tax, and consulting lines.

Leadership and tenure as Global Chairman and CEO

Elected by the Ernst & Young Global Council, Carmine Di Sibio assumed the role of Global Chairman and CEO in July 2019, succeeding Mark Weinberger. His strategic vision, dubbed "EY NextWave," emphasized substantial investment in artificial intelligence, blockchain, and cybersecurity capabilities. A defining initiative of his tenure was "Project Everest," a bold plan to legally separate EY's global audit practice from its faster-growing advisory and tax consulting businesses. This proposed split, aimed at resolving inherent conflict of interest concerns and unlocking value, involved complex negotiations with global regulators like the U.S. Securities and Exchange Commission and the UK Financial Reporting Council. After extensive planning, the proposal was abandoned in April 2023 due to internal dissent among partners and formidable execution challenges. Di Sibio continued to lead the firm until the end of his term in June 2024, when he was succeeded by Janet Truncale.

Other professional roles and affiliations

Beyond his executive duties at Ernst & Young, Di Sibio has served in leadership capacities with several prominent business and advisory organizations. He has been a member of the Business Roundtable and has served on the Board of Trustees for the United States Council for International Business. His expertise in financial services and corporate governance has also seen him contribute to forums at the World Economic Forum in Davos. Furthermore, he has been involved with his alma mater, sitting on the Advisory Council for the Mendoza College of Business at the University of Notre Dame.

Personal life

Carmine Di Sibio is married to Mary Di Sibio, and the couple has three children. He maintains a residence in Greenwich, Connecticut. An active alumnus, he frequently participates in events for both the University of Notre Dame and Harvard Business School. Di Sibio is also known for his philanthropic interests, particularly in supporting educational initiatives and community development programs.

Category:1962 births Category:American chief executives Category:Ernst & Young people Category:Harvard Business School alumni Category:Living people Category:People from New York City Category:University of Notre Dame alumni