Plante & Moran elects new managing partner
"I am pleased and honored to become Plante & Moran's newest managing partner," said Krater, who currently serves as a group managing partner. "Bill Hermann has always championed Plante & Moran as a growing organization whose strength rests in the service the firm provides its clients, and I'm delighted to be able to continue that tradition as Plante & Moran's next leader."
Krater joined Plante & Moran in 1980 after graduating from the University of Michigan. As group managing partner in charge of the firm's industry groups, Krater coordinates and oversees client service, growth, and people development directed at industry specialization and customization. Krater has also led the firm's efforts in mergers of several accounting and consulting niche practices with Plante & Moran.
Krater has given presentations to public accounting and consulting firms around the country on "Building a World Class Culture," "Partner Participation Systems," and "Matrix Management in a Professional Services Firm."
"Gordon will become the new managing partner as the firm celebrates its 85th anniversary, and I have no doubt that he will continue the core traditions of client service, staff development, and community leadership that have been fundamental to our development over the years," said Hermann.
Krater will lead Plante & Moran in the continued development of its capabilities and processes to anticipate and satisfy client needs. He plans to help the firm grow by continuing to improve client service, adding services that clients need, expanding certain practice areas on a national basis, and putting additional emphasis on community leadership.
Krater says the firm's core traditions -- a "We care" philosophy based on the golden rule and core purpose to be a "caring, professional firm that is deeply committed to our clients' success," -- will continue to be the foundation for Plante & Moran's growth and client service. Krater is especially proud of the firm's recent recognition by Human Resource Executive Magazine as one of the country's "18 Great Companies for Millennials" as well as its 10 consecutive years on FORTUNE Magazine's list of the "100 Best Companies to Work For." Krater plans to continue to foster the firm's great work environment which attracts talented people to the firm which translates into enhanced client service.
Bill Hermann will conclude two four-year terms as managing partner on June 30, 2009. During his eight years as managing partner, Hermann has led the firm's growth by expanding its geographic footprint and broadening service capabilities. In the past ten years, Plante & Moran has tripled its revenue and nearly doubled its number of staff. Hermann led the firm through mergers with BKR Dupuis & Ryden in Flint, and with Gleeson, Sklar, Sawyers and Cumpata, and Wetmore & Associates, in Illinois. He also oversaw the expansion of the firm's international capabilities through the creation of Plante & Moran Global Services which has an office and staff members in Shanghai, China and Monterrey, Mexico. Also under Hermann's direction, Plante Moran Trust, a trust bank formed to meet clients' estate planning needs, was formed. Hermann was recently named one of 2008's "Top Five Most Admired Peers" by INSIDE Public Accounting (IPA), and one of Accounting Today magazine's "Top 100 People" of 2008. Hermann will continue to actively contribute to the firm leadership after stepping down as managing partner.
Gordon Krater is only the sixth managing partner to be installed since the firm's founding in 1924. Managing partner elections are held every four years, and a single managing partner can serve up to three four-year terms.
Plante & Moran  is among the nation's largest certified public accounting and business advisory firms, providing clients with tax, audit, risk management, financial, technology, business consulting, and wealth management services. Plante & Moran has a staff of more than 1,600 professionals in 18 offices throughout Michigan, Ohio, Illinois, Monterrey, Mexico and Shanghai, China. Plante & Moran has been recognized by a number of organizations, including Fortune magazine, as one of the country's best places to work.