FTI Consulting announced that it will keep Steve Gunby in the chief executive officer role after deciding to abandon its previously announced succession plan.
Steve Gunby has led the firm since 2014 and the company has extended his tenure through at least 2029. The original succession plan had identified Lars Faeste, a former Boston Consulting Group executive, as a potential successor; Faeste departed the firm after the plan was scrapped.
The decision to drop the succession plan comes amid revenue declines in the Economic Consulting and Technology segments. The firm has also seen the exit of Jonathan Orszag from its economic consulting practice, a move that has pressured forecasts for the segment and highlighted talent‑retention challenges.
Management has said that leadership changes are a normal part of professional‑services firms and that the company is focused on bringing in new talent to drive progress. The retention of Gunby signals confidence in his ability to navigate the current headwinds.
The announcement underscores a commitment to stability for investors and clients while the firm works to address the headwinds in its economic consulting and technology businesses. Maintaining continuity at the top is intended to reassure stakeholders that strategic initiatives and talent investments will continue without disruption, even as the company confronts segment‑specific challenges.
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