Crown, appointment - image credit Jametlene Reskp on UnsplashBearingPoint, the global multinational management and technology consulting firm has elected Stefan Penthin to become the next Managing Partner at the firm. The current Managing Partner, Kiumars Hamidian, will hand over the reins on September 1st 2023, after six years and two terms in the position.

Penthin joined BearingPoint from KMPG and has been at the company for over twenty years. He was elected to the post after Hamidian stepped down from re-election as planned. Penthin won the election, which is based on a democratic, one-partner, one-vote system. It is not known who else stood against Penthin and how significant a majority he enjoyed.

Stefan Penthin, Managing Partner Elect, Bearing Point
Stefan Penthin, Managing Partner Elect, Bearing Point

Stefan Penthin commented, “I am honored to be entrusted as the next Managing Partner of our firm and am fully committed to the long-term success of our clients and the partnership. We have extraordinary people and a strong portfolio driven by the spirit of innovation and entrepreneurship. We will go further with our mission, creating lasting outcomes for our clients and enabling people to succeed.” 

Kiumars Hamidian comments: “Congratulations to Stefan Penthin! With him taking up the role as Managing Partner in September, I know that our business is in the safest possible hands. Stefan is a highly trusted leader and has been exceptionally successful in creating client value, he has excellent abilities, deep industry expertise, and an outstanding commitment to our values and principles.

“In his role as the global leader for our market segments, Stefan has made a significant contribution to the outstanding business success of our firm with revenues increasing to over EUR 1 billion. The transition process is well on schedule, and fully supported by the entire Partnership of our firm.” 

Who is Stefan Penthin

Penthin joined BearingPoint as a Senior Consultant in 2003 and rose rapidly. He became an equity partner in 2012. In 2014, he became the Global Leader for Service Line Operation. In 2019, he was appointed Global Leader Automotive. An industry he was familiar with, having been a consultant in that sector at KPMG.

He now serves as a member of the firm’s global Management Committee and the German Executive Committee. He became the global leader for BearingPoint’s market segments in January 2023, as well as the global leader for Automotive & Industrial Manufacturing.

Penthin has led several large global consulting projects and business transformation programs, mainly focused on automotive and manufacturing. His consulting expertise includes supply chain management, operational excellence, as well as production and logistics optimization. He has worked with several global BearingPoint clients, as well as some niche players.

Looking back at the success at BearingPoint of Hamidian

Kiumars Hamidian, Managing Partner, BearingPoint (image credit - LinkedIn)
Kiumars Hamidian, Managing Partner, BearingPoint

Hamidian has led BearingPoint through a tumultuous period. Elected in 2018, he led the organisation through the pandemic and grew revenues to more than €1 billion, from €739 million in 2018.

The employee count has varied during his tenure, with around 4,574 in 2018. By 2022 it was 5253. In the last year, the company has grown its employees by 15% to over 6,000.

Hamidian has also overseen 13 acquisitions and a new subsidiary in India. In 2021 BearingPoint created a joint venture with IFS, the global ERP company, branding it Arcwide in 2022. He also oversaw growth in the US and Asia.

BearingPoint RegTech and BearingPoint Beyond (today flourishing as independent companies) have been successfully spun off. He has also had an impact on the culture, with BearingPoint establishing its purpose as “Together, we are more than business.” and embracing a people-centric culture.

Once the handover to Penthin is completed, Kiumars Hamidian will start his official early retirement phase in early 2025. It will be interesting to see whether he picks up any non-executive roles.

Enterprise Times: What does this mean?

With a term of three years, Penthin has an opportunity to take BearingPoint to the next stage of its evolution. Will he continue the recent growth and cultural changes, or will he nuance them? As a partnership, BearingPoint is not the easiest to change direction, and it will be interesting to see how Penthin steers the company with his ideas over the next three or more years. Success should mean at least another term.

Perhaps an indication of what his intentions are can be found in a quote by him on the BearingPoint website. He said, “I am convinced that we live in a world where the combination of digital innovations and business process optimizations holds the greatest economic potential in decades. If you don’t use this potential today, you may not have the chance tomorrow.”

Was he talking about BearingPoint itself or the potential customers?

1 COMMENT

  1. This article previously incorrectly stated that BearingPoint had over 10,000 employees in 2018. This was the number of consultants in its network.

LEAVE A REPLY

Please enter your comment!
Please enter your name here