It is expected that the new head of the company will be chosen in the coming weeks.
The head of the international consulting company McKinsey, Kevin Sneader, will leave his post at its management decision. This was reported on Wednesday on its website by the Financial Times (FT) newspaper.
According to sources familiar with the situation, Sneader did not make it to the final round of voting, which determines the holder of the position of global managing partner of McKinsey. The new head of the company is expected to be selected in the coming weeks. Sneader took up his post in July 2018. McKinsey’s 650 senior partners had the opportunity to re-elect him to another three-year term. Each of Snider’s predecessors led the company for at least two terms.
As the FT notes, Sneader’s removal may be due to several scandals in which McKinsey was involved and dissatisfaction with some partners due to his attempts to tighten the rules that the company follows when making decisions about the possibility of cooperation with potential customers.
In early February, McKinsey agreed to pay $574 million in a lawsuit filed against the company to the authorities of almost all US states. The company was accused of contributing to the deepening of the so-called opioid crisis in the United States. From 2004 to 2019, McKinsey advised the American pharmaceutical company Purdue Pharma, helping it aggressively increase sales of a painkiller that causes severe addiction. The company expressed regret over the incident but did not admit its guilt.