McKinsey & Company, the largest of the Big Three management consulting firms, announced that Bob Sternfels will become its Global Managing Partner in July after the company’s recent reputational crisis.
Kevin Sneader is the first managing partner since 1976 who will only be serving one three-year term. This decision came after McKinsey paid almost $600 million in settlements over its work with drug companies which fueled the nation’s opioid crisis.
Currently, Sternfels serves as a senior partner at McKinsey and sits as a member of the company’s shareholders council. A native of California, Sternfels joined Mckinsey in 1994 and has worked in the company’s Australian and South African offices. He will be McKinsey’s 13th managing partner since its founding in 1926.
“I am determined to use this moment to make our partnership stronger, more inclusive and better able to help our clients thrive in a fast-changing world,” Sternfels said in a press release. “I am also committed to build on the important changes that Kevin helped launch and our partnership embraced — and on the good work our firm does with our clients and in society.”
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