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Mark Weinberger

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Mark Weinberger
Weinberger in 2016
Born1964 or 1965 (age 59–60)[1]
Scranton, Pennsylvania, U.S.
Alma materEmory University (1983)
Case Western Reserve University (1987)
Georgetown University Law Center (1991)
Occupation(s)former chairman and CEO of EY (2013–2019); board member of Metlife, Saudi Aramco, Johnson & Johnson, NBER; senior advisor Teneo, Stone Canyon Industries Holdings Inc., G100, World 50, JUST Capital
PredecessorJim Turley
SuccessorCarmine Di Sibio
SpouseNancy Lee Williams Weinberger
Children4

Mark A. Weinberger (born 1964/1965) is an American businessman. He is the former global chairman and CEO of EY (formerly known as Ernst & Young).[2][3] Weinberger currently sits on several boards of directors, including those of Metlife,[4] Johnson & Johnson[5] Saudi Aramco.[6] and JPMorgan Chase. Earlier in his career he has also held several posts in the public sector in Washington, D.C., including time as Assistant Secretary of the Treasury for Tax Policy.

Early life and education

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Weinberger was born in Scranton, Pennsylvania,[7] the son of Goldye (née Schick) and Murray Weinberger.[8] He is Jewish.[9] He graduated from Wyoming Seminary, a Methodist college preparatory school Kingston, Pennsylvania, in 1979.[10][11] He received a Bachelor of Arts from Emory University in Atlanta, Georgia in 1983.[11][12] In 1987, he earned a Master of Business Administration and Juris Doctor from Case Western Reserve University in Cleveland, Ohio, followed by a Master of Law from Georgetown University Law Center in Washington, D.C. in 1991.[11][13][14]

Career

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Following his studies at Case Western Reserve University, Weinberger joined EY's tax department in 1987.[15][16] He later moved from the private sector to the public sector, becoming tax counsel for Sen. John C. Danforth, a Republican from Missouri. He maintained that post through the early 1990s before becoming chief of staff for the 1994 Entitlement and Tax Reform Committee, which had considered raising the retirement age for Social Security recipients, increasing premiums for Medicare and restricting tax deductions for interest on home mortgages.[17][18][19]

Weinberger co-founded Washington Counsel, P.C., in 1996.[16] EY acquired the firm in May 2000, which was renamed Washington Council Ernst & Young.[20] From then until February 2001 Weinberger ran EY's national tax department.[16]

Two consecutive U.S. presidents chose Weinberger for positions that returned him to the public sector. In 2000, President Bill Clinton appointed Weinberger to the Social Security Advisory Board.[16] Weinberger later left EY's national tax department, in February 2001, to serve as President George W. Bush's Assistant Secretary of the Treasury for Tax Policy.[16][17] Weinberger returned to EY from the United States Treasury Department in April 2002.[21] Weinberger also served President Obama on his Infrastructure task force.[22]

EY announced, in January 2012, that Weinberger would succeed retiring CEO Jim Turley by taking on the role of global chairman and CEO in July 2013.[23]

AT&T chairman and CEO Randall Stephenson named Weinberger chairman of the Business Roundtable's tax and fiscal policy committee in December 2014.[24] He served on the 2016-2019 executive committee.[25]

As president-elect, Donald Trump invited Weinberger and 15 other chief executives to join the President's Strategic and Policy Forum in December 2016, tasked with helping Trump establish an agenda that benefits the business community.[26][27] In January 2019, EY announced that Carmine Di Sibio would succeed Weinberger, effective 1 July 2019.[28]

Following EY, Weinberger joined the board of directors of several corporations, including MetLife, Johnson & Johnson and Saudi Aramco. Weinberger serves as senior advisor FCLT, G100, World 50m and Just Capital .[29][30][31] Weinberger is also a member of the boards of directors for the National Bureau of Economic Research, Catalyst, American Council for Capital Formation, The Tax Council and The Bullis School; and the boards of trustees for Emory University and Case Western Reserve University.[32][33] Weinberger co-chaired the Russia Foreign Investment Advisory Council[34] with Prime Minister Dmitry Medvedev. He chairs the Mayor of Shanghai's International Business Leaders Advisory Council (IBLAC).[35]

Weinberger has advocated for tax reform[36] and women in the workplace.[37] He has advocated for increased paid family leave, including paternity leave, and EY has extended its policy from 12 to 16 weeks,[38] and finding the right balance between fatherhood and work.[39] In June 2017, Weinberger and Lady Lynn Forester de Rothschild, announced that they were assembling CEOs from global companies, including Indra Nooyi, Paul Polman and Jamie Dimon, to work on a proof of concept to encourage and measure companies long-term value creation through human, physical, financial and intellectual capital deployment.[40][41][42] Weinberger has spoken at the Milken Institute, World Economic Forum in Davos, Switzerland, and Aspen Ideas Festival.[43][44][45][46] He has appeared on news programs, including those on CNBC, Fox Business and Bloomberg, offering commentary on business and the economy.[47][48][49] He has been interviewed by The Wall Street Journal[50][51][52] and his writing has appeared in Financial Times and The Huffington Post, among others.[53][54]

Honors and recognition

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The Anti-Defamation League presented Weinberger with its Achievement Award in December 2012.[55] In September 2015, Weinberger delivered the Robert S. Hatfield Fellow in Economic Education lecture at Cornell University.[56] In the same year, he received the Tax Council Policy Institute's Pillar of Excellence Award.[57] His alma mater, Weatherhead School of Management at Case Western Reserve University honored Weinberger with the Braden Award in 2017.[58] In November 2018, he was awarded the Tax Foundation's Distinguished Service Award .[59] Weinberger has an honorary doctorate from the Kogod School of Business at American University in Washington DC .[60]

In 2016, Weinberger was named among the best bosses in the UK, as voted for by their employees, with a 91 percent approval rating.[15] From 2015 to 2019, Weinberger has been constantly ranked on Glassdoor's Highest Rated CEOs list.[61]

Personal life

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Weinberger and his wife, Nancy Lee (née Williams), have four children.[62][63] He lives in Potomac, Maryland.[62]

References

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  1. ^ Adelman, Ken (April 1, 2006). "Ernst & Young's Mark Weinberger Talks Taxes". Washingtonian. Weinberger, 44, was born in Scranton, Pennsylvania, where his father was a plumber and his mother a homemaker.
  2. ^ Rapoport, Michael (January 17, 2012). "Ernst Names Chairman and CEO". The Wall Street Journal. Retrieved June 25, 2013.
  3. ^ "Mark Weinberger – Ernst & Young Global Executive biography". Ernst & Young. Retrieved June 25, 2013.
  4. ^ Gnana, Jennifer (April 5, 2020). "Aramco appoints former EY CEO". The National. Retrieved May 29, 2020.
  5. ^ Johnson & Johnson (December 5, 2019). "Johnson & Johnson Names Hubert Joly, Executive Chairman of Best Buy and Mark A. Weinberger, Former EY Global Chairman and CEO to its Board of Directors". PR Newswire. Retrieved May 29, 2020.
  6. ^ Alothman, Reema (April 5, 2020). "Aramco appoints former EY CEO". Bloomberg Tax. Retrieved May 29, 2020.
  7. ^ Clark, Matthew (January 18, 2012). "Big shot: Mark Weinberger". The London Times.
  8. ^ "Murray Weinberger, of Scranton, died Saturday in the VNA Hospice at Community Medical Center, Scranton". Times Leader. April 26, 2003.
  9. ^ "Trump names Jewish billionaire to head economic advisory team". Times of Israel. 2 December 2016. Others include Daniel Yergin, an authority on the role energy plays in international affairs; Mark Weinberger, the chairman of Ernst and Young, the tax accounting giant, who was honored with the 2012 Anti-Defamation League Achievement Award; Larry Fink, who helms BlackRock, an investment management firm; Robert Iger, the Disney CEO; and Kevin Warsh, a former governor of the Federal Reserve who is married to Jane Lauder, an heiress to the Lauder cosmetics fortune.=
  10. ^ Schillinger, Charles (19 July 2015). "People on the move, July 19, 2015". Scranton Times-Tribune. Retrieved 22 March 2017.
  11. ^ a b c Falchek, David (18 January 2012). "Company with 154,000 employees in 144 countries to be headed by Scranton man". The Citizens' Voice. Retrieved 22 March 2017.
  12. ^ "Famous alumni". Emory University. Retrieved 22 March 2017.
  13. ^ Dena Cipriano (8 May 2014). "Global chairman & CEO of EY to speak at commencement". Case Western Reserve University. Retrieved 22 March 2017.
  14. ^ "Alumni in the news". Georgetown University Law Center. Retrieved 22 March 2017.
  15. ^ a b "The best bosses in the UK 2016, voted for by their employees". The Daily Telegraph. 8 June 2016. Archived from the original on 11 June 2016. Retrieved 22 March 2017.
  16. ^ a b c d e Freedberg, Sydney (17 March 2002). "Now he's the one making the tax rules". St. Petersburg Times. Retrieved 23 March 2017.
  17. ^ a b Adelman, Ken (1 April 2006). "Ernst & Young's Mark Weinberger talks taxes". Washingtonian. Retrieved 23 March 2017.
  18. ^ Rubin, Alissa J. (25 November 1997). "National perspective". Los Angeles Times. Retrieved 23 March 2017.
  19. ^ Pianin, Eric (6 December 1994). "Major cuts in tax breaks, benefits urged by entitlements panel staff". The Washington Post. Retrieved 23 March 2017.
  20. ^ Bredemeier, Kenneth (9 May 2000). "Ernst & Young buys D.C. lobbying firm". The Washington Post. Retrieved 23 March 2017.
  21. ^ Retter, Daphne (15 April 2002). "People on the move". Congressional Quarterly Daily Monitor. Retrieved 23 March 2017.
  22. ^ Cohn, Michael (December 3, 2018). "Global Chairman and CEO Mark Weinberger stepping down". Accounting today. Retrieved May 29, 2020.
  23. ^ Aubin, Dena (17 January 2012). "Ernst & Young names ex-U.S. Treasury official as CEO". Reuters. Retrieved 23 March 2017.
  24. ^ "Weinberger to drive Business Roundtable's tax work". International Tax Review. 2 December 2014. Retrieved 23 March 2017.
  25. ^ "Executive committee". Business Roundtable. Archived from the original on 27 February 2014. Retrieved 23 March 2017.
  26. ^ "Ernst & Young's CEO is 'optimistic' about a Trump presidency". Fortune. 5 December 2016. Retrieved 23 March 2017.
  27. ^ Krouse, Sarah (2 February 2017). "President Trump is turning to these 8 CEOSs on key business issues". The Wall Street Journal. Retrieved 27 March 2017.
  28. ^ "EY names Carmine Di Sibio as global chairman and CEO". Financial Times. 18 January 2019. Retrieved 1 July 2019.
  29. ^ "Saudi Aramco appoints Mark Weinberger as a member of its Board of Directors". Saudi 24 News. Retrieved 16 July 2020.
  30. ^ "Former Global Chairman and CEO, EY". FCLT Global. Retrieved 16 July 2020.
  31. ^ "Former Global Chairman and CEO, EY". G100 Board excellence. Retrieved 16 July 2020.
  32. ^ "Executive profile: Mark A. Weinberger". Bloomberg L.P. Retrieved 23 March 2017.
  33. ^ "Current members". The Wall Street Journal. Retrieved 23 March 2017.
  34. ^ "City of excellence". Shanghai Daily. 7 November 2016. Retrieved 7 November 2016.
  35. ^ "Internet based tech-one". China Daily. Retrieved 11 November 2016.
  36. ^ Giampia, Nick (3 February 2017). "EY CEO: We need tax reform this year". Fox Business. Retrieved 23 March 2017.
  37. ^ Luke Visconti (17 April 2014). "EY Global CEO Mark Weinberger: 'High-performance teams have to be diverse and inclusive'". diversityinc.com. Retrieved 23 March 2017.
  38. ^ Paquette, Danielle (19 June 2016). "Why men fear paternity leave". The Washington Post. Retrieved 23 March 2017.
  39. ^ Stampler, Laura (15 September 2014). "CEO dads open up about balancing fatherhood and work". Time. Retrieved 23 March 2017.
  40. ^ "Global groups join forces to prove value beyond financial results". Financial Times. 27 June 2017. Retrieved 22 August 2018.
  41. ^ "Ending short-termism and taking the long view: EY CEO". CNBC. 11 June 2018. Retrieved 22 August 2018.
  42. ^ "Towards Better Capitalism, World Economic Forum Panel". World Economic Forum. 23 January 2018. Retrieved 22 August 2018.
  43. ^ "Milken conference: elite's optimism fails to convince". Financial Times. 9 May 2016. Retrieved 23 March 2017.
  44. ^ Gilchrist, Karen (16 January 2017). "Educating Trump: EY CEO outlines advisory panel to aid president-elect across all industries". CNBC. Retrieved 23 March 2017.
  45. ^ "Weinberger: Banks in better shape than years ago". CNBC. Retrieved 23 March 2017.
  46. ^ Schaffler, Rhonda (8 July 2015). "Reducing income inequality is a pro-business idea, says EY CEO". TheStreet.com. Retrieved 23 March 2017.
  47. ^ "Weinberger: Tax reform was emphasized". CNBC. 3 February 2017. Retrieved 23 March 2017.
  48. ^ "EY CEO Weinberger: Trump's team wants to create more competitive tax system". Fox Business. 3 February 2017. Retrieved 23 March 2017.
  49. ^ "EY CEO on the 'Four Ps' for Passing Tax Reform". Bloomberg. 26 September 2017. Retrieved 20 August 2018.
  50. ^ Feintzeig, Rachel (12 March 2014). "Accounting CEO looks beyond China roadblock". The Wall Street Journal. Retrieved 29 March 2017.
  51. ^ Farrell, Maureen (28 April 2015). "Why Ernst & Young's CEO expects more M&A". The Wall Street Journal. Retrieved 29 March 2017.
  52. ^ Weber, Lauren; Feintzeig, Rachel (28 June 2016). "Big employers are urging calm after U.K. vote". The Wall Street Journal. Retrieved 29 March 2017.
  53. ^ Weinberger, Mark (7 June 2016). "Why entrepreneurs are essential to the global economy — EY". Financial Times. Retrieved 23 March 2017.
  54. ^ Weinberger, Mark (26 October 2016). "Protecting your seat at the family dinner table". The Huffington Post. Retrieved 23 March 2017.
  55. ^ Oryszczuk, Stephen (2 July 2013). "Weinberger becomes new Ernst & Young chief". Jewish News. Retrieved 22 March 2017.
  56. ^ "Mark Weinberger to give Hatfield lecture Sept. 17". Cornell Chronicle. 9 September 2015. Retrieved 22 March 2017.
  57. ^ "The tax Council institute to honor Mark Weinberger at annual symposium". PR newswire. 5 February 2015. Retrieved 16 July 2020.
  58. ^ "Braden Award: This year's recipient is Mark A. Weinberger, Global Chairman & CEO". Case Western University. 3 November 2017. Retrieved 4 October 2018.
  59. ^ "EY Global Chairman and CEO Mark Weinberger to Receive 2018 Distinguished Service Award". Tax Foundation. 1 October 2018. Retrieved 16 July 2020.
  60. ^ "Board of trustees, current board Mark Weinberger". Emory Edu. 1 January 2014. Retrieved 16 July 2020.
  61. ^ "Highest rated CEOs". Glassdoor. 2016. Archived from the original on 7 April 2017. Retrieved 22 March 2017.
  62. ^ a b "New at the top: Mark Weinberger". The Washington Post. 5 February 2012. Retrieved 22 March 2017.
  63. ^ Nominations of Mark A. Weinberger and John Duncan: Hearing Before the Committee on Finance, United States Senate, One Hundred Seventh Congress, First Session, on the Nominations of Mark A. Weinberger to be Assistant Secretary of the Treasury for Tax Policy, and John Duncan to be Assistant Secretary of the Treasury for Legislative Affairs, Volume 4. U.S. Government Printing Office. February 28, 2001. p. 18.
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