Contact: Madonna Jarrett
Deloitte Touche Tohmatsu
Director, Global PR & CEO Communications
+1 212 492 3738

New York, May 31, 2007 — Jim Quigley and his new leadership team take the helm of Deloitte Touche Tohmatsu on June 1, 2007, with one simple goal: for Deloitte member firms to be the best and achieve their vision of becoming the standard of excellence. According to the new CEO, the firms' passion for professional excellence and delivering measurable value to clients combined with a new focus on brand and people, will give the firms of the second-largest professional services network the edge to become the first choice of talented professionals, and ultimately, the leading firm worldwide within two years.

Quigley has a clear plan that includes: strengthening the connection between Deloitte member firms across regions, increasing the number of professionals in key markets in Europe and Asia and building a stronger commitment to people — a potential source of sustainable competitive advantage — and building a brand stronger than any other professional services firm. His team will also introduce innovative services that enhance the firms' consultative capabilities, building on an already strong market differentiator for Deloitte.

"Deloitte is in the business of delivering value to clients, which is enabled by the unique business model and capabilities of its member firms. It is critical that Deloitte becomes one of the most recognizable brands in the marketplace to attract the right people and sustain our momentum in the marketplace," Mr. Quigley said.

"I am not talking about a multi-million dollar advertising campaign but using the strength of client service and having world-class systems and processes in place, so that the people of our member firms can deliver excellence consistently each time they have the privilege to work with a client. Our brand will be strengthened as the market place recognizes the Deloitte difference."

According to various third parties, the Deloitte market differentiator is its firms' multiple service offerings, and Quigley wants to take advantage of this strength. "Deloitte has a powerful business model which will result in substantial growth worldwide in audit, tax, financial advisory services, consulting and merger and acquisition services. We need, however, to do a better job of attracting and keeping people to make this a reality," he said.

The Quigley team plans to redefine the "Best" in managing people across the Deloitte member firms and aims to reduce turnover rates by 1 percent each year for the next five years. In the United States, one of our largest member firms, the turnover rate is approximately 15 percent — one of the best in the profession.

The plan proposes initiatives such as increasing the number of people on international assignments (in FY2006 more than 1200 people were on international assignments), launching a world-class leadership development program and a global women's leadership development program. One other measure of success is to increase the number of female partner admissions to member firms from 26 percent today to 31 percent by 2009.

"The shortage of qualified professionals throughout the world poses a serious challenge to all our member firms. It may be a cliché to many, but to me, our people are our greatest asset. Our commitment to the development of our people must be strengthened so our member firms can be the first choice of the most talented professionals," explains Mr. Quigley. "We want people who share our values and culture and can deliver the Deloitte brand promise."

Diversity is a fundamental part of the Deloitte culture and the new leadership is the most diverse ever for Deloitte. The Executive, the organization’s main decision-making body, is comprised of eight from the Americans region, nine Europeans and three Asians.

"Strength from cultural diversity is one of our shared values that define our culture and I am delighted that the new team reflects the diversity of the global organization," Mr. Quigley said.

A significant element of the Quigley plan is to achieve market place recognition of the Deloitte brand promise in both the market for talent and the market for professional services.

Mr. Quigley said, "The deep roots that define the Deloitte culture go back some 100 years. These roots combined with a stronger global network will better define our brand promise. I am confident that the strength of our culture will help our firms attract the right people, increase our market share and help Deloitte firms take another step toward becoming the standard of excellence."

Jim Quigley was Chief Executive Officer of Deloitte & Touche USA LLP from June 2003 – May 2007. He is a 30-year veteran of Deloitte and the profession. He is lead adviser to some of the world's largest and most complex multinational companies setting a client service standard that will be a hallmark of his global leadership. He has contributed to financial market development through interaction and liaison with regulators and participation in forums promoting capital market reform. He has also been an advocate for business ethics and accountability in various external forums.

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 140 countries. With access to the deep intellectual capital of approximately 150,000 people worldwide, Deloitte delivers services in four professional areas — audit, tax, consulting, and financial advisory services — and serves more than 80 percent of the world's largest companies, as well as large national enterprises, public institutions, locally important clients and successful, fast-growing global growth companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.

As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other’s acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte," "Deloitte & Touche," "Deloitte Touche Tohmatsu" or other related names.