August 12, 2014

Schneider Downs Announces Plans for Leadership Transition

Timothy J. Hammer and Steven D. Thompson to Serve as Co-Managing Shareholders, Raymond W. Buehler, Jr. Assumes Chairman Position

PITTSBURGH - Schneider Downs, one of the nation’s 60 largest public accounting firms, today announced a leadership transition plan that will take place over the next two years. 

Effective August 12, Timothy J. Hammer and Steven D. Thompson will be named co-managing shareholders of the firm. After 30 years as president and CEO of the firm, Raymond W. Buehler, Jr., will transition to the position of Chairman.

Mr. Hammer and Mr. Thompson both are current members of Schneider Downs’ Board of Directors and executive management team. Collectively, they will be responsible for leading the firm’s initiative for product delivery and quality, client services, corporate culture, firm growth and community presence.

The creation of co-managing shareholder positions is part of Schneider Downs’ 58-year leadership heritage. With the retirement of founders and co-managers James T. Schneider and Paul E. Downs in 1985, the firm created a similar structure by naming Kenneth A. Rowles and Raymond W. Buehler, Jr., as co-managing shareholders. Mr. Buehler later became president and CEO. The firm will transition to this dual management structure with today’s announcement.

“As I enter my 30^th year in a leadership position at Schneider Downs, I could not be more proud that our firm will return to a dual management structure,” stated Buehler, who joined the firm in 1975. “This structure reflects our collaborative culture. Tim and Steve have served our firm with exceptional leadership and have the complete trust and respect of our shareholder group, as well as our entire firm. We also have a very strong board and incredibly talented shareholders. We are tremendously excited about our future.”

Timothy J. Hammer, CPA, joined Schneider Downs in 1986 and became an audit shareholder in 1998. He is a member of the firm’s Board of Directors and chairs the firm’s Employee Benefit Plan Services group.

“Our firm’s heritage lies in recognizing, and meeting, the needs of our clients. The market is ever changing, and Schneider Downs will continue to evolve as we introduce new services and capabilities to the market as they are needed,” Mr. Hammer said. “Both Steve and I embrace the challenge of carrying on in the tradition of Ray Buehler, and all of the previous leaders of our firm, in adapting to changing market needs and conditions.”

Steven D. Thompson, CPA, has been an audit shareholder with Schneider Downs since 2004, and serves on the firm’s Board of Directors. He chairs Schneider Downs’ Public Company Services group.

“In both Pittsburgh and Columbus, Schneider Downs has achieved steady and continuous growth through a commitment to making our employees, clients and communities better every day. We’re blessed with a unique culture and heritage, and I’m proud to be part of carrying that into the future,” Mr. Thompson stated.  

The leadership transition will evolve over the next two years, permitting Mr. Hammer and Mr. Thompson to stay in a client service capacity as they become accustomed to their new posts. The firm’s shareholder group elected to address its succession plans at this time to establish a smooth and logical transition process.

“We consistently counsel our clients on the importance of advance planning in all of their business activities,” explained Buehler. “Making this announcement early is simply an example of our firm taking our own advice. We recognize our responsibility to our employees and clients to do this right and assure Schneider Downs of continued success.”

For more information about Schneider Downs, please contact Sean P. Smith at 412-697-5321, or [email protected]