In a significant organizational revamp, Deloitte India is set to witness the early retirement of approximately 35 senior partners as part of a strategic move to infuse fresh leadership into its audit, consulting, financial advisory, risk advisory, and tax practices. The UK-headquartered firm, currently one of the world’s largest big 4 professional services firms by revenue, is rolling out a ‘golden handshake’ program, targeting partners who have reached the age of 55.
The ‘golden handshake’ initiative offers a severance package equivalent to around two years’ annual compensation in lieu of early retirement. This move is seen as a deliberate effort by Deloitte India to transition its leadership team and welcome younger professionals who can adapt to the rapidly changing dynamics of the business environment.
A Deloitte India spokesperson acknowledged the partners’ contributions over the years, stating, “As in the past, some partners have expressed their desire for early retirement to pursue their passions and other interests after dedicating several years to Deloitte India.”
The development aligns with the broader trend among major professional services firms in India aiming to transform into specialized consulting and advisory providers, traditionally dominated by firms like McKinsey and BCG. Deloitte India’s leadership renewal comes at a crucial juncture as the firm strategically positions itself in the evolving business landscape.
Romal Shetty, appointed as the CEO of Deloitte’s South Asia practice last year, reflects the firm’s commitment to a leadership shift. Shetty, in his late 40s, stands as one of the youngest CEOs appointed by Deloitte in India. As Deloitte eyes significant growth in India, with plans to have around 30 percent of its workforce operating from the country in the next four years, the renewal of leadership is poised to play a pivotal role in staying ahead of the industry curve.
