New York-Moscow, 3rd April 2014 – PwC is pleased to announce today the successful completion of its combination with Booz & Company. With the granting of all regulatory approvals for Booz & Company to join PwC, it is now officially part of the PwC Network. All closing conditions for the deal have been met.
Marking this occasion, Booz & Company has changed its name to Strategy& (pronounced Strategy and). This new name, which will be used alongside the PwC name and brand, reflects the strength in strategy consulting that Booz & Company brings to the PwC Network and the benefits this deal will bring to all clients and stakeholders. After a short grace period, Booz & Company can’t legally continue to use the Booz name following the change in ownership.
Welcoming the Strategy& team to the PwC Network, Dennis Nally, Chairman of PricewaterhouseCoopers International, says, “Today signifies an important step for PwC, our clients and stakeholders. Businesses are navigating unprecedented, disruptive threats and organisations increasingly want the right strategy and the ability to execute it. Together PwC and Strategy& meet this need – delivering superior value to our clients and stakeholders, attracting premium talent and helping businesses around the world build their capabilities on a global scale. This combination of PwC and Strategy& will see PwC lead the way in changing the landscape of the global consulting business”.
“We are delighted to be joining PwC, the leading professional services network in the world, as it enables us to offer both our clients and our people a bigger, broader, and better opportunity to connect strategy to impact,” says Cesare R. Mainardi, CEO of Strategy&. “Strategy& brings a 100-year heritage of practical strategy advice to PwC’s broad and deep portfolio of expert advisory services. On day one, we can meet clients’ needs for a full menu of strategy-through-execution services, and a single point of access in delivering results. We have the footprint, the scale, the resources, and the proven capabilities to help global enterprises every step of the way from strategy to outcomes. It’s an exciting prospect.”
“Businesses need to be able to adapt to changing economic and social threats and opportunities. Together PwC and Strategy& aim to help clients identify and manage these concerns and build on these opportunities by combining our global scale with extensive local knowledge wherever we operate,” – believes David Gray, PwC Russia Managing Partner.
“By establishing Strategy& as part of the PwC network, we’re changing the consulting landscape for good. We’re offering our clients in Russia and across the world something they can’t get anywhere else: a combination of strategy consulting expertise and a proven track record of delivery that draws on unrivalled global scale and experience,” – added Geoffrey Nicholson, Partner, PwC Russia.
“PwC and Strategy& offer our clients in Russia and across the world practical strategy advice from people who understand the opportunities and risks involved in implementation—and execution expertise from people who fully understand the strategic context,” – said Ekaterina Kozinchenko, Partner, Practice Lead Energy, Chemicals and Utilities in Russia, Strategy&.
“In 1914, our founder Edwin Booz invented the management consulting industry. Now, 100 years later it’s fitting that Booz and PwC are reinventing the industry with Strategy& - changing the way the world thinks about strategy and how strategy work is done,” – added Ekaterina Kozinchenko, General Director, Strategy&.
“We welcome Strategy& to the PwC network and look forward to working with our new colleagues in Russia and around the world. Strategy& will add strength and depth to our existing strategy practice in PwC and truly deliver consulting services all the way from strategy development to practical execution,” – said Mark Okes-Voysey, Partner, PwC.
PwC Strategy&’s Board of Directors will be chaired by Tony Poulter, a PwC partner and global consulting leader. Cesare Mainardi will be CEO of Strategy&. He has been the CEO of Booz & Company for the past two years.
For more information, please visit www.strategyand.pwc.com
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