Deloitte partner Stephen Cahill quits after drunken Ascot rant
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Deloitte partner resigns after insulting ‘every collective group’ of minorities in 30-minute drunken Ascot tirade
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A Deloitte deputy chairman resigns after a drunken rant at Royal Ascot that was sexist, racist and bullying.
Stephen Cahill, a senior partner and one of the accounting giant’s 25 vice presidents, “insulted every collective group” of minorities during his 30-minute diatribe, sources told the Financial Times.
Cahill, the most recently head of the company’s executive compensation practice, will retire after 14 years at Deloitte.
Deloitte vice chairman Stephen Cahill ‘insulted every collective group’ of minorities during his 30-minute diatribe, sources told the Financial Times
His departure follows an investigation into events on June 14, when about 30 Deloitte employees from Cahill’s division went to the Ascot horse racing for a social event.
The 51-year-old went with a separate group of friends, but eventually joined his colleagues later in the day – at which point he was said to be very drunk.
He launched a diatribe that was offensive to women and made an insulting remark about an ethnic minority employee, eyewitnesses told the FT.
The next day, Cahill – who is believed to have made more than £1 million a year from the Big Four accountant – called his colleagues to apologize and reported the incident to Deloitte.
This week, his colleagues were told that he would be retiring. An insider told the Mail they were ‘shocked’ that he was retiring rather than being fired, as former Deloitte British boss David Sproul had emphasized the company’s ‘zero tolerance’ policy towards ‘ inappropriate behavior’. An eyewitness to Cahill’s tirade said, “It’s not appropriate to label it a retirement.”
Another said they felt they needed to speak up, as Cahill’s job was to advise companies on how to include more women and minorities at the top.
A Deloitte spokesperson said: “Stephen Cahill is retiring from Deloitte. We have no comment on Stephen’s retirement.’
His departure isn’t the first time one of Britain’s Big Four bean counters has ended up in hot water after a merry office.
Earlier this year, PwC auditor Michael Brockie launched a lawsuit against the company after an office-organized “pub golf” outing resulted in part of his skull being removed after he bumped his head on the road.
The 28-year-old claimed the event encouraged “excessive alcohol consumption.”
At EY, partner Neil Hutt resigned after he was reprimanded for telling a female intern, ‘I’m going to f**k you’, during a company ski trip.