SINGAPORE: A change of guard at Deloitte will be taking place, with Southeast Asia Chief Executive Officer (CEO) Chaly Mah stepping down after 38 years with the firm, announced the professional services firm on Thursday (Mar 3).
Mr Philip Yuen - who is currently CEO for Deloitte Singapore - will succeed Mr Mah on Jun 1, when the latter retires at the end of Deloitte’s fiscal year on May 31.
“I am honoured to have been selected by my partners as Deloitte Southeast Asia’s next CEO,” said Mr Yuen. “Chaly is a visionary leader and has built a strong firm in the region. These are big shoes to fill and I am deeply humbled to succeed him.”
“Philip’s experience as Deloitte Singapore CEO - the largest and most complex country practice in our Southeast Asia network - combined with his over 30-year career with Deloitte makes him the right leader for Deloitte in the region. I am confident Philip will lead the firm to even greater success,” said Mr Mah.
Speaking at a media briefing on Thursday, Mr Mah said the slowdown in China has created new opportunities for Deloitte in Southeast Asia, with more businesses moving into this region. He also warned that the accounting industry faces disruptions from advances in technology, with computers replacing people in areas such as document vetting and verification.
"The accountancy profession has been around for more than a hundred years and there is no doubt that this particular industry will also be subjected to some of these disruptive forces that are around, so we're starting to see technological disruption,” he said. “We're already applying a lot of analytical tools to help us perform our audit so that we can have a much more effective audit. But you know the future, the next wave of technology is going to come from sensing technologies and robotics."