Business Services Industry

James S. Turley Takes Over as Global Chairman At Professional Services Giant Ernst & Young; Philip A. Laskawy Retires After Seven-Year Term

Business Wire, July 2, 2001

Business Editors

NEW YORK--(BUSINESS WIRE)--July 2, 2001

James S. Turley, 45, today begins his tenure as chairman of Ernst & Young, a leading global professional services organization. He succeeds Philip A. Laskawy, who retired from the organization on June 30 after 40 years of service--the last seven years as chairman.

Turley now heads up a global organization that advises companies on a broad range of financial and business issues with industry expertise and solutions that encompass accounting, tax and corporate finance services, online privacy and security, as well as legal services in various parts of the world. Ernst & Young has more than 80,000 people working in 130 countries. The firm's worldwide revenues in 2001 exceed $10 billion.

As part of a management succession process that began one year ago, Turley assumed the title of chairman-elect. "I am excited to have the opportunity to lead Ernst & Young and our great team of professionals worldwide during a period of dynamic change in our profession," Turley said. "As chairman, I plan to aggressively implement our new strategic vision for the future and unleash the tremendous power of our people on a global basis."

Turley, a Certified Public Accountant, is a career veteran of Ernst & Young and a native of St. Louis. After earning his bachelor's and master's degrees from Rice University, Turley joined Ernst & Young in 1977 and was made a partner 10 years later. Since that time, he has held numerous executive-level posts in the organization, including U.S. National Director of Client Services and Business Development (1987-1990), Coordinating Partner on major accounts (1991-1993), Area Director of Entrepreneurial Services (1993-1994), Midwest Area Managing Partner (1994-1998), and Metropolitan New York Area Managing Partner (1998-2000).

Commenting on the transition, Laskawy said, "I am truly honored to have served as chairman of Ernst & Young for the past seven years. In my 40 years with this organization, I have had the chance to work with some of the most talented people in business and have made many friendships that are among my most special memories."

Laskawy added, "I look forward to Jim Turley's leadership. He represents the experience, energy and dedication that will carry Ernst & Young forward to continued growth and success."

About Ernst & Young

Ernst & Young, a global leader in professional services, helps clients to quickly and confidently make financial decisions designed to enhance value. Its 80,000 people in more than 130 countries have the industry and financial experience to provide fresh perspectives on operating in the new economy. Ernst & Young offers traditional audit and tax services, as well as customized services in corporate finance, online security, risk management, the valuation of intangibles and e-business acceleration. In addition, legal services are available in various parts of the world where permitted. A collection of Ernst & Young's views on a variety of business issues can be found at www.ey.com/thoughtcenter.> Ernst & Young refers to the U.S. firm of Ernst & Young LLP and other members of the global Ernst & Young organization.