McKinsey boss Kevin Snyder must vacate positions surprisingly

McKinsey boss Kevin Snyder must vacate positions surprisingly

DHe has been global McKinsey boss Kevin Snyder for three years, but surprisingly failed in regular elections. Partners of management consultancy have voted for the replacement of 54-year-old Shotten, “reportsfinancial Times“On Wednesday evening. 650 senior partners of the company will decide their successor in an election in the next one to two weeks. So two candidates are still in the running for the global executive chair: Bob Sternfeld and Sven Smit, both senior fellows, the first in San Francisco, the last in Amsterdam.

This type of voting is very unusual after only three years in office. McKinsey has recently come under considerable pressure mainly because of his role in the US opioid crisis. It had become known that McKinsey’s advisers had helped American pharmaceutical companies such as Purdue Pharma in the marketing of opioids over the years, while the risks of intoxication were clearly intentionally reduced.

A vote against Snyder can be seen as a vote of no-confidence in his crisis management. In early February, McKinsey tied up with 49 states for approximately $ 600 million to settle lawsuits in the US. McKinsey had never paid so much money for an out-of-court settlement. Two employees had to leave. Even in South Africa, McKinsey was caught with his ingestion past. The company is involved in a major corruption scam there. McKinsey claimed innocence in the scandal, but returned fees for a second time in December.

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