BearingPoint Elects Stefan Penthin to Be the Next Managing Partner of the Global Firm

With, as planned, the final term of its current Managing Partner coming to an end, the partnership of the independent management and technology consultancy, BearingPoint, has elected Stefan Penthin to be its next Managing Partner, effective September 1, 2024. He will succeed Kiumars Hamidian, who successfully headed the business since his appointment in 2018, and did not stand for re-election after two terms in office as planned. The new Managing Partner was elected by the BearingPoint Partners in a collaborative process based on the principle of One Partner - One Vote.

Stefan Penthin comments: "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."

Stefan Penthin has been with BearingPoint for 23 years and became a Partner in 2012. He is a member of the firm's global Management Committee and of the German Executive Committee. He is also the global leader for BearingPoint's market segments as well as the global leader for Automotive & Industrial Manufacturing. Stefan brings more than 25 years of experience in business consulting to the table and has been leading large global consulting projects and business transformation programs with a focus on automotive and manufacturing industries. Stefan's functional expertise is centered around supply chain management, operational excellence, as well as production and logistics optimization. His clients include major multinational corporations as well as specialized segment players across the globe.

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."

Kiumars Hamidian, Managing Partner at BearingPoint since 2018, guided BearingPoint successfully through the pandemic and to new heights. Under his leadership, revenues rose to more than EUR 1 billion and the number of employees increased to more than six thousand in 2023.

During Hamidian's time in office, 13 acquisitions were delivered, a new subsidiary in India opened, and the US and Asia business expanded. In addition, the first joint venture (Arcwide) has been successfully established, and BearingPoint RegTech and BearingPoint Beyond (today flourishing as independent companies) have been successfully spun off. Moreover, BearingPoint established its purpose "Together, we are more than business," and embraced a people-centric culture. Once the handover to Stefan Penthin is complete, Kiumars Hamidian will start his official early retirement phase in early 2025.

About BearingPoint

BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three business units: Consulting, Products, and Capital. Consulting covers the advisory business with a clear focus on selected business areas. Products provide IP-driven digital assets and managed services for business-critical processes. Capital delivers M&A and transaction services.

BearingPoint's clients include many of the world's leading companies and organizations. The firm has a global consulting network with more than 10,000 people and supports clients in over 70 countries, engaging with them to achieve measurable and sustainable success.

For more information, please visit:

Homepage: www.bearingpoint.com 
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