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EY CEO Janet Truncale is ‘Uncomfortable’ Being Known as the First Female Big Four Boss, But Has Learned to Embrace It
In a world where gender diversity and inclusion are at the forefront of many conversations, Janet Truncale’s journey to becoming the first female CEO of EY (Ernst & Young) is undeniably historic. However, Truncale herself has expressed a sense of discomfort at being recognized primarily for this milestone. For her, the title of “first female Big Four boss” comes with a complex mix of pride, responsibility, and a desire to be seen first and foremost for her skills and leadership rather than her gender.
Breaking Through the Glass Ceiling
Truncale’s appointment as CEO of EY was a watershed moment in the accounting world. The Big Four — EY, Deloitte, KPMG, and PwC — have traditionally been male-dominated, with their top leadership often following a traditional, almost predictable path. EY, one of the largest global professional services firms, had never seen a woman in the CEO role before Truncale’s appointment in 2023. In fact, while women have made strides in business leadership over the years, the notion of a female CEO in one of the Big Four firms still remains relatively rare.
For Truncale, however, the title of “first female CEO” does not come without its challenges. In interviews, she has openly discussed her initial discomfort with being defined solely by her gender in such a highly publicized role. She recognizes the significance of the achievement, but she also feels a sense of discomfort in being boxed in by that label. “I didn’t ask for this to be the narrative,” she has stated. “I don’t want my leadership to be defined by being the first woman. I want it to be defined by the work that I do, the impact I have, and the changes I drive for our people, clients, and communities.”
Yet, as much as she may feel uneasy with the spotlight on her gender, Truncale has come to understand the deeper implications of her leadership. Her appointment is, in fact, a powerful symbol of progress in an industry that has often struggled with gender equality at the top levels. It represents the culmination of decades of work by countless women who have paved the way for others in the corporate world.
The Importance of Representation
While Truncale may not relish the title of “first female” CEO, she has learned to embrace the responsibility that comes with it. One of her primary focuses as CEO is to foster a more inclusive and diverse work environment within EY, not just for women but for all underrepresented groups. She sees herself as a role model for women in business, and she fully understands the importance of representation. “Seeing is believing,” she says, reflecting on the way her leadership might inspire the next generation of female professionals.
Truncale’s rise to the top is a testament to the hard work, determination, and expertise required to reach the highest levels of leadership in the business world. But her journey also speaks to the barriers that still exist for women in the corporate world — barriers that she herself has had to navigate. As a woman in a leadership position, she is acutely aware of the unique challenges that women face in business. These include the pressures to balance assertiveness with approachability, to prove their competence more than their male counterparts, and to work harder to be seen as credible leaders.
Yet, as much as Truncale acknowledges the challenges, she also emphasizes the importance of mentorship and the power of supportive networks. She has benefited from strong mentorship throughout her career, and she continues to mentor younger professionals, particularly women, to help them break through similar barriers. She advocates for organizations to actively create environments where women can succeed — environments that go beyond mere representation to include mentorship, opportunities for growth, and fair recognition.
Gender Equality: Not Just a Women’s Issue
Truncale’s leadership philosophy revolves around inclusivity, but she is also keen to point out that gender equality is not a women’s issue alone. She believes that the focus on diversity and inclusion should be framed in a broader context. “We need men to be allies, just as much as we need women to lead. It’s not enough to simply have women in leadership positions; we need to create cultures where everyone — regardless of gender, race, or background — can thrive,” she explains. This perspective stems from her recognition that real change is only possible when everyone works together to foster an inclusive environment.
At EY, Truncale has made it a priority to implement programs that are specifically designed to support underrepresented groups, including women. For example, the firm has introduced initiatives that focus on enhancing women’s professional development, offering flexible work arrangements, and supporting women in leadership training. Truncale’s leadership is centered on creating a workplace where all individuals feel empowered to contribute their talents and ideas.
Redefining Leadership
For Truncale, leadership is not just about titles; it’s about making a meaningful impact. She has consistently demonstrated that her leadership style is about collaboration, empowerment, and creating an environment where people feel valued. One of her goals is to redefine what it means to be a leader in a corporate setting. “Leadership is about listening, understanding, and inspiring those around you,” she says. “It’s about creating a culture where people feel they belong and can bring their full selves to work.”
Her approach to leadership is a departure from the traditional command-and-control model that has often dominated corporate environments, especially in the Big Four. By focusing on empathy, transparency, and inclusivity, Truncale has created a leadership style that resonates with a new generation of professionals who expect more from their employers in terms of workplace culture and values.
The Power of Humility
While Truncale may not be comfortable being defined as the “first female Big Four boss,” her humility and perspective on leadership make her an exemplary figure in the corporate world. She recognizes the importance of her achievement, but she is equally focused on the work that lies ahead — work that is about more than just breaking barriers. It is about building a legacy of leadership that will influence the future of the firm, the industry, and the countless professionals who look up to her.
Her story serves as a reminder that the path to leadership is not always smooth or straightforward. It requires resilience, perseverance, and a commitment to breaking down barriers. But it also requires humility and the recognition that leadership is ultimately about service — about creating an environment where others can grow and succeed.
Conclusion
Janet Truncale’s journey to becoming the first female CEO of EY is an inspiring tale of breaking barriers, but it is also a story of embracing responsibility and redefining leadership. While she may be uncomfortable with the label of “first female,” she has come to appreciate the significance of her role in driving change and inspiring others. Through her leadership, Truncale is not just challenging norms but creating a more inclusive, supportive, and equitable workplace for all.
