Schneider Downs, one of the nation's 60 largest public accounting firms, today announced a leadership transition plan that will take place over the next six months.
Effective July 1, 2020, Christopher S. McElroy (Chris) will join Steven D. Thompson as co-managing shareholder of the firm. Timothy J. Hammer will retire on this date, after 34 years at Schneider Downs, including five years as Co-CEO with Mr. Thompson. This is a planned transition created as part of the firm's current 5-year strategic plan.
Through Schneider Downs' Co-CEO structure, Mr. McElroy and Mr. Thompson will be responsible for leading the firm's initiative for product delivery and quality, client services, corporate culture, firm growth and community presence. The firm has operated under a dual management structure for nearly half of its 63 years of operation.
"I am extremely proud to welcome Chris to join me as Co-CEO of Schneider Downs," Mr. Thompson stated. "Chris' insights, enthusiasm and incredible leadership skills will be invaluable assets as we lead our firm into the future. Schneider Downs thrives under a collaborative culture, not just at the managing partner level, but also through our very strong board and talented shareholder group. Our five-year plan includes aggressive plans and initiatives, and we have the leadership team in place to make it happen."
Mr. McElroy joined the firm in 2017 as a tax shareholder and immediately made an impact on the firm as a technical advisor, valued mentor and insightful member of the firm's management team. He holds leadership roles with several firm committees, including serving on the firm's Advisory Growth Committee, which is a component of the firm's Strategic Plan. He has a diverse background serving large U.S. multinational companies, closely-held companies, partnerships and S corporations in the areas of international tax consulting and compliance, tax accounting and mergers and acquisitions.
"Schneider Downs has long embraced the challenge of change, both within the industry, as well as within our own firm and our service offerings," Mr. McElroy said. "Tim Hammer has been an amazing catalyst for
managing change at our firm, and an incredible mentor to me personally. His name in synonymous with the Schneider Downs culture, and I'm honored by the opportunity to continue his legacy of leadership."
The leadership transition will evolve over the next six months, permitting all parties involved to create a seamless migration to their new assignments.
"The speed of change in our industry has never been faster, but I've never been more confident in the future of our firm than I am today," said Mr. Hammer. "It's been an honor to work and grow with this incredible group of professionals, and I can't wait to see what they do next."
Schneider Downs is a Top 60 accounting firm providing tax, audit and business advisory services to public, private and nonprofit companies. The firm offers 80 services from five business units: Assurance and Tax Advisors; Business Advisors; Technology Advisors; Wealth Management Advisors; and Corporate Finance Advisors. With offices in Pittsburgh and Columbus, Schneider Downs serves clients in Pennsylvania, Ohio, Washington D.C., West Virginia, New York, Maryland and beyond.
