Latest news with #GrantThornton
Belfast Telegraph
6 hours ago
- Business
- Belfast Telegraph
Wholesale and retail giant Musgrave spent £1.2bn in NI economy last year
Musgrave NI, which owns the Centra, Mace and SuperValu names, has published a report on its economic contribution prepared by economists at Grant Thornton on the company's behalf. The report said the company supports 5,000 jobs while working with 250 NI suppliers, and 'investing significantly in local communities'. The report said it had spent a total of £1.2bn across the NI economy in 2024, adding £329m in Gross Value Added (GVA) and paying £121.5m in wages, representing 3.7% of sector employment. The report also said Musgrave, which has operated here since 1983, has invested £240m in NI supply chain partnerships and worked indirectly with over 3,000 farmers. Grant Thornton calculated that Musgrave's total spend with NI suppliers amounted to a further £256m in indirect expenditure. Last year, the company launched new brand, Good Food Locally Sourced, in a £14m investment in partnerships with local suppliers. It also made capital investments of £16m in new and refurbished stores and energy-saving upgrades. Across the SuperValu, Centra and Mace brands, Musgrave operates over 220 stores across Northern Ireland and plans to grow the network in 2025 and beyond. Trevor Magill, Musgrave NI managing director, said: 'Right across the board, we have deepened our investment in Northern Ireland over the past year through new store openings and refurbishments, environmental initiatives, local sourcing partnerships, and impactful charity contributions. 'To see this all accumulate into a figure of £1.2bn in economic output makes me incredibly proud of our team and the efforts that are made.' Andrew Webb, chief economist at Grant Thornton said: 'To be responsible for injecting £1.2bn of spending into the economy in one year is an incredible feat and something that doesn't happen without momentous effort.' Musgrave NI's wholesale division includes Musgrave Marketplace, Drinks Inc., La Rousse Foods and recently acquired businesses Robb Wines, Parkview Provisions and AFT.
Khaleej Times
a day ago
- Business
- Khaleej Times
Taxation Society hosts insightful conference on ‘UAE corporate tax evolution: The year 2 perspective'
The Taxation Society successfully hosted its flagship event, 'UAE corporate tax evolution: The year 2 perspective', on May 31 at India Club, Dubai. The full-day event attracted a diverse audience of tax professionals, business leaders, and finance experts, offering key insights into the UAE's fast-changing tax environment. The event commenced with opening remarks by Satish Kumar Sivan, consul-general of India to Dubai and Northern Emirates; and Tawhid Abdulla, chairman, Dubai Gold & Jewellery Group. Renowned speakers including Dinesh Khator, tax director, Deloitte Middle East; Jairajesh Nadar, senior manager, Deloitte UAE; Niraj Hutheesing, founder and MD, Cygnet One; Vijaya Mohan, managing partner, Evas Constantin Consultants; and Mithilesh Reddy, founder and CEO, SBC Tax Consulting, shared practical insights on corporate tax return filing, transfer pricing, e-invoicing and AI-driven compliance. A thought-provoking panel discussion on 'Navigating Change: The Evolving Role of Professionals in the UAE Corporate Tax Landscape' was moderated by Michael Armstrong, strategic adviser, ICAEW Middle East. The panel featured Zayd Khalid Maniar, managing partner, Crowe UAE; Stany Pereira, managing partner, PKF UAE; Hisham Farouk, CEO, Grant Thornton UAE; and Rakesh Pardasani, senior partner, RSM Dahman.
Yahoo
3 days ago
- Business
- Yahoo
Grant Thornton appoints Rick Surett as CFO, succeeding longtime leader Muhammad Bhayat
CHICAGO, June 02, 2025--(BUSINESS WIRE)--Grant Thornton, one of America's largest brands of professionals providing end-to-end audit, assurance, tax and advisory services, has named Rick Surett as its new chief financial officer (CFO). He will succeed Muhammad Bhayat, who is retiring after more than 20 years at Grant Thornton. Surett officially steps into the CFO role on June 2. He is an accomplished financial executive with nearly 30 years of experience across private equity backed companies, public markets and complex capital structures. "Rick brings a wealth of experience and a fresh perspective that will help us continue driving value for our clients and our people — especially now, as we expand our multinational platform from America across Europe and into the Middle East," said Jim Peko, CEO of Grant Thornton. "At the same time, Muhammad's tenure at Grant Thornton has been a foundational part of this firm and he has made an immeasurable impact on our people and our business." Before joining Grant Thornton, Surett served as CFO of Transportation Equipment Network, the largest full-service trailer leasing company in North America, where he significantly improved operational efficiency and scalability. He also held a series of leadership roles at Ports America, including CFO, and previously served as director of corporate development at Avaya. Surett expressed enthusiasm about stepping into the role and continuing to build on the firm's legacy of innovation and growth. "Joining Grant Thornton as CFO will mean partnering with our exceptional teams across the organization to strengthen our financial strategy and support the firm's continued momentum," said Surett. "I can't wait to get started." Surett earned a bachelor's degree in accounting from Siena College in Loudonville, NY, and an MBA in finance from the State University of New York at Albany. About Grant ThorntonGrant Thornton delivers professional services in the US through two specialized entities: Grant Thornton LLP, a licensed, certified public accounting (CPA) firm that provides audit and assurance services ― and Grant Thornton Advisors LLC (not a licensed CPA firm), which exclusively provides non-attest offerings, including tax and advisory services. In January 2025, Grant Thornton formed a multinational, multidisciplinary platform with Grant Thornton Ireland. The platform offers a premier advisory and tax practice, as well as independent American and Irish audit practices. In April 2025, Grant Thornton UAE also joined the multinational platform. With $2.7 billion in revenues and almost 60 offices spanning the U.S., Ireland, the UAE and other territories, the platform delivers a singular client experience that includes enhanced solutions and capabilities, backed by powerful technologies and a roster of almost 13,000 quality-driven professionals enjoying exceptional career-growth opportunities and a distinctive cross-border culture. Grant Thornton is part of the Grant Thornton International Limited network, which provides access to its member firms in more than 150 global markets. Grant Thornton LLP, Grant Thornton Advisors LLC and their respective subsidiaries operate as an alternative practice structure (APS). The APS conforms with applicable laws, regulations and professional standards, including those from the American Institute of Certified Public Accountants. "Grant Thornton" refers to the brand under which the member firms in the Grant Thornton International Ltd (GTIL) network provide services to their clients and/or refers to one or more member firms. Grant Thornton LLP and Grant Thornton Advisors LLC serve as the U.S. member firms of the GTIL network. GTIL and its member firms are not a worldwide partnership and all member firms are separate legal entities. Member firms deliver all services; GTIL does not provide services to clients. View source version on Contacts Lourdes Perez T +1 305 341 8097E S Sign in to access your portfolio
Business Wire
3 days ago
- Business
- Business Wire
Grant Thornton appoints Rick Surett as CFO, succeeding longtime leader Muhammad Bhayat
CHICAGO--(BUSINESS WIRE)--Grant Thornton, one of America's largest brands of professionals providing end-to-end audit, assurance, tax and advisory services, has named Rick Surett as its new chief financial officer (CFO). He will succeed Muhammad Bhayat, who is retiring after more than 20 years at Grant Thornton. Surett officially steps into the CFO role on June 2. He is an accomplished financial executive with nearly 30 years of experience across private equity backed companies, public markets and complex capital structures. 'Rick brings a wealth of experience and a fresh perspective that will help us continue driving value for our clients and our people — especially now, as we expand our multinational platform from America across Europe and into the Middle East,' said Jim Peko, CEO of Grant Thornton. 'At the same time, Muhammad's tenure at Grant Thornton has been a foundational part of this firm and he has made an immeasurable impact on our people and our business.' Before joining Grant Thornton, Surett served as CFO of Transportation Equipment Network, the largest full-service trailer leasing company in North America, where he significantly improved operational efficiency and scalability. He also held a series of leadership roles at Ports America, including CFO, and previously served as director of corporate development at Avaya. Surett expressed enthusiasm about stepping into the role and continuing to build on the firm's legacy of innovation and growth. 'Joining Grant Thornton as CFO will mean partnering with our exceptional teams across the organization to strengthen our financial strategy and support the firm's continued momentum,' said Surett. 'I can't wait to get started.' Surett earned a bachelor's degree in accounting from Siena College in Loudonville, NY, and an MBA in finance from the State University of New York at Albany. About Grant Thornton Grant Thornton delivers professional services in the US through two specialized entities: Grant Thornton LLP, a licensed, certified public accounting (CPA) firm that provides audit and assurance services ― and Grant Thornton Advisors LLC (not a licensed CPA firm), which exclusively provides non-attest offerings, including tax and advisory services. In January 2025, Grant Thornton formed a multinational, multidisciplinary platform with Grant Thornton Ireland. The platform offers a premier advisory and tax practice, as well as independent American and Irish audit practices. In April 2025, Grant Thornton UAE also joined the multinational platform. With $2.7 billion in revenues and almost 60 offices spanning the U.S., Ireland, the UAE and other territories, the platform delivers a singular client experience that includes enhanced solutions and capabilities, backed by powerful technologies and a roster of almost 13,000 quality-driven professionals enjoying exceptional career-growth opportunities and a distinctive cross-border culture. Grant Thornton is part of the Grant Thornton International Limited network, which provides access to its member firms in more than 150 global markets. Grant Thornton LLP, Grant Thornton Advisors LLC and their respective subsidiaries operate as an alternative practice structure (APS). The APS conforms with applicable laws, regulations and professional standards, including those from the American Institute of Certified Public Accountants. 'Grant Thornton' refers to the brand under which the member firms in the Grant Thornton International Ltd (GTIL) network provide services to their clients and/or refers to one or more member firms. Grant Thornton LLP and Grant Thornton Advisors LLC serve as the U.S. member firms of the GTIL network. GTIL and its member firms are not a worldwide partnership and all member firms are separate legal entities. Member firms deliver all services; GTIL does not provide services to clients.
Hindustan Times
5 days ago
- Business
- Hindustan Times
UPPCL denies favouritism, calls allegations ‘baseless'
The Uttar Pradesh Power Corporation Ltd (UPPCL) and its employees' union are locked in a fresh face-off over the selection of Grant Thornton as a consultant for power sector reforms, with the management dismissing allegations of irregularities as 'misleading and baseless'. While the UPPCL said no decision had yet been taken on a separate September 2024 tender aimed at improving financial accounting standards at the division level, the Vidyut Karmachari Sanyukt Sangharsh Samiti alleged that the process was deliberately delayed to favour Grant Thornton. It was alleged that despite no final decision, the firm had advertised accountant positions in December 2024, mentioning work locations across multiple U.P. discoms. The committee alleged a 'major scam' in the name of privatisation and demanded the sacking of UPPCL director (finance) SK Narang, accusing him of colluding with private firms. It also questioned why the September 2024 tender, in which Grant Thornton reportedly emerged L1 in technical bidding, was kept on hold for months. Responding to the charges, Narang, in a written statement, said the tender in question was unrelated to the reforms consultancy and aimed purely at improving accounting quality under Ind-AS norms. 'Both tenders serve distinct purposes and no decision has been taken yet. All actions are in line with due process,' he said.
