In 2024, BDO appointed a new Chief Operating Officer, Mark Ellenbogen, succeeding Steve Ferrara, who retired. The firm also appointed John Fiebig as the second independent member to its Audit Quality Advisory Council (AQAC). Established in 2022, BDO’s AQAC provides input on the firm’s system of quality management, directly advising BDO’s CEO and board of directors on audit quality matters.
To help lead BDO’s AI strategy, the firm appointed Mike Gerhard to the newly established role of Chief Data and AI Officer in August. Gerhard spearheads BDO’s data and AI initiatives while also using data analytics and technology to drive business insights and innovation. The firm also strengthened its AI solution offering — helping clients address risks and unlock additional business value by empowering their own people, improving efficiencies and productivity.
BDO marked significant milestones and earned recognition for its employee programs and workplace culture in 2024. In August, BDO celebrated the one-year anniversary of the establishment of its Employee Stock Ownership Plan (ESOP), one of the most significant moments in the firm’s 114-year history. BDO was the first major accounting firm to adopt an ESOP, establishing a new path forward for the industry as a whole. As part of its people-first culture, BDO expanded its social impact strategy by selecting its first strategic cause partnership with Big Brothers Big Sisters of America, the leading youth mentoring organization in the country.
The firm’s commitment to empower and retain its people was recognized in October, when it was selected as one of the Best Companies to Work For by U.S. News & World Report and named among the top 20 on Newsweek’s list of America’s Most Loved Workplaces®. Throughout the year, BDO welcomed and promoted 113 new principals among its more than 12,000 professionals.
“BDO remains committed to the essential strategy, focus and investments needed to fulfill its core purpose — helping people thrive every day,” said Natalie Kotlyar, chair of the board of directors of BDO USA. “Each one of these milestones and achievements are critical to our long-term success, and I look forward to seeing how they help accelerate our business and people even further this year.”
About BDO USA
Our purpose is helping people thrive, every day. Together, we are focused on delivering exceptional and sustainable outcomes and value for our people, our clients and our communities. BDO is proud to be an ESOP company, reflecting a culture that puts people first. BDO professionals provide assurance, tax and advisory services for a diverse range of clients across the U.S. and in over 160 countries through our global organization.
BDO is the brand name for the BDO network and for each of the BDO Member Firms. BDO USA, P.C., a Virginia professional corporation, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. For more information, please visit: www.bdo.com.
