Texas CPA firm names new managing partner

San Antonio-based Padgett, Stratemann & Co. LLP (PS&Co.), one of the largest CPA and business advisory firms in Texas, has named John Wright as the new managing partner. Wright will lead the firm, overseeing strategic growth initiatives and supporting ongoing retention and recruiting activities, including management and professional team development.

Wright is taking the reins from Ray Berend, managing partner since 1992. With the firm for 45 years, Berend will remain a partner and advisor to PS&Co.'s executive committee.

"Ray has developed an incredible team and we are in a strong position to go forward. The framework for our firm's succession strategy has been in progress for many years under his leadership," said Wright. "We are excited about the firm's future and have planned for a seamless, focused transition."

Wright stepped into the managing partner role on August 1. A partner with PS&Co. for seven years, he has been with the firm for a
total of 13 years. As partner, he was a leader of the firm's audit
practice, working with clients in the manufacturing, construction and
distribution industries.

In addition to audit activities, Wright has assisted clients with
their own succession and compensation planning. He has also been an
active contributor to the firm's overall retention, recruiting and
organizational development initiatives. Prior to joining PS&Co.,
Wright was with Arthur Andersen for five years.

"John brings numerous strengths to the table as managing partner.
He has substantial leadership and professional experience with a
strong emphasis on team and relationship building," said Berend.

With 35 percent growth in 2008, Wright will be navigating the firm
through its greatest rate of expansion since its inception. The
management team anticipates adding 30 to 40 additional staff members
by year's end in San Antonio and Austin.

In addition to the managing partner, PS&Co. leadership includes a
five-member executive committee comprised of firm partners. The
committee oversees operational and strategic initiatives within the
firm. Key areas of focus for the team include: leveraging new
technologies for client collaboration, creating work-life plans for
retaining employees and launching PSCO University, a structured
professional development training program.

Recognized as one of the "Best Places to Work" in San Antonio and
Austin in 2008, the firm provides a range of accounting, audit, tax
and other business advisory services for publicly traded and private
companies and governmental entities.

About Padgett, Stratemann & Co., LLP

Padgett, Stratemann & Co., LLP (PS&Co.) is one of Texas' largest,
locally owned CPA and business advisory firms. Headquartered in San
Antonio, with an office in Austin, PS&Co. works with clients in the
banking, construction, government-based, non-profit, medical,
professional services, manufacturing, retail, distribution,
technology, insurance and real estate sectors. The firm's experienced
professionals provide a range of sophisticated accounting, audit, tax
and other business advisory services. PS&Co. is affiliated with RSM
McGladrey and RSM International, the nation's fifth largest CPA firm.

In business since 1946, PS&Co. is dedicated to professional
excellence, integrity and community service. To learn more about our
depth of services and expertise, visit www.padgett-cpa.com.

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