PwC India CFO of 11 years quits! Who steps in next?

• Time to call it quits!
• After over a decade as CFO of PwC India, Yogesh Sirohi has decided to step down from his position.
• Sirohi announced his departure after 11 years at the firm in a recent LinkedIn post.
• His exit comes at a time when PwC is facing mounting challenges on a global scale.

In a surprise LinkedIn post,

Yogesh Sirohi was an integral part of PwC’s leadership team, playing a key role in shaping the firm’s strategic direction.

Every journey must come to an end eventually.

Sirohi announced his exit from PwC India, writing…

“It has been an extraordinary journey filled with opportunities to grow, challenges that shaped me. From navigating complex business challenges to leading transformational initiatives.”

Sirohi continued, “PwC was not just a workplace, it was where I found my voice, stretched my thinking, and built relationships that I will carry with me for life.”

A look back at his career

Yogesh Sirohi is an alumnus of the Institute of Cost Accountants of India.

He began his career at Thomas Cook in 1990.

He officially commenced his journey with the Big 4 in May 1995, by joining KPMG India. He spent 19 successful years at the firm, honing his expertise in finance and leadership.

Ultimately, in 2014, he got appointed as PwC India’s Chief Financial Officer and was elevated to Partner in January 2021.

So why did PwC India’s CFO quit now?

The timing of Sirohi’s exit? Strange, but not random.

However, his resignation comes just as PwC faces mounting global pressure.

Indian regulators slap fines

Regulators in India has slapped fines on the firm for audit lapses, including botched checks on related-party transactions and arm’s length pricing.

Saudi Arabia PIF terminates advisory contracts

Saudi Arabia’s Public Investment Fund (PIF) & 100 other subsidiaries were told to stop handing out advisory projects to PwC! PwC is restricted from all new advisory and consulting contracts like strategic consulting, mergers & acquisitions, tax advisory, and finance transformation.

China Evergrande audit scandal 

In September 2024, Chinese authorities banned PwC China for six months and fined it over 400 million yuan ($56.4 million).  The reason? Failing to properly audit the Chinese property developer Evergrande.

To top it all, PwC is pulling out of over a dozen countries to exit low-performing markets and cut ties with risky clients.

Also read: Saudi Arabia’s PIF, $925Bn sovereign wealth fund bans PwC

PwC India leadership

Sanjeev Krishan, Chairman

Asha Ramanathan, Chief Operating Officer

Shirin Sehgal, Chief People Officer

Sanjeev Takkar, General Counsel

Manoj Kashyap, Chief Risk Officer

Neeraj Gupta, Leader for Partner Affairs

Also read: PwC exit low-performing markets & cut ties with risky clients

PwC India’s revenue

PwC India posted revenue of USD 1.1 billion (₹9,200 crore) for FY24, marking a strong 22% year-on-year growth.

What’s next?

As far as the next CFO of PwC India is concerned, no successor has been announced, yet. (We’ll keep you updated!)

Meanwhile, Sirohi has not disclosed his next professional step, but hinted at new opportunities ahead:

“The road ahead is exciting… I move forward with immense gratitude, lasting memories, and deep pride in what we’ve achieved together.”

Given his track record, don’t be surprised if he resurfaces in a boardroom, a funded startup, or even launching something of his own.