BDO USA, one of the nation's leading accounting and advisory firms, today announced that Chief Operating Officer Steve Ferrara will retire from his position following a distinguished 33-year career with the firm. Assurance Principal Mark Ellenbogen will succeed Ferrara as chief operating officer, effective July 1, 2024.

"Collaborating with Steve over the last 12 years has been a privilege,” said Wayne Berson, CEO of BDO USA. “Steve has made innumerable and invaluable contributions to the firm, including overseeing remarkable revenue growth of over 350% since 2012 and successfully establishing an Employee Stock Ownership Plan (ESOP) in August of last year. I am confident Mark will build on Steve’s legacy, and his leadership will propel us toward a new chapter of sustainable, people-first growth.”

With over 30 years in public accounting and more than two decades at BDO USA, Ellenbogen has a deep understanding of the firm’s operations and has played pivotal roles in the growth and management of the Audit & Assurance practice, working with clients across various industries. As a BDO USA board member, Ellenbogen chaired the Governance Committee and was instrumental in establishing the ESOP, closely working alongside Ferrara, Berson, the leadership team and board during a transformational moment in the firm’s history.

"Stepping into the COO role is both an honor and an exciting opportunity. I am proud to have been a part of the firm’s successes during the last 22 years and am ready to leverage our past achievements to reach new heights as an ESOP company,” said Ellenbogen. “I am grateful for Steve's guidance during this transition and the unwavering support of Wayne, the executive team and the board.”

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.

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