FTI Consulting has scrapped a succession plan unveiled last June, keeping veteran CEO Steve Gunby in the chair until 2029. The 68‑year‑old, who joined the firm in 2013, now holds both executive and board leadership, a move that forced the exit of his closest heir, Lars Faeste, and sidelined former growth chief Carlyn Taylor today.

FTI’s board justified the dual role as a temporary measure, claiming Gunby best mentors a successor. Yet the plan’s delay pushed Faeste to resign, and Taylor left after the board signaled reluctance to replace Gunby. A December filing extended Gunby’s contract to 2029, while Faeste now appears only as a senior adviser in the past year.

Investor reactions split: one shareholder praised Gunby’s 97‑percent re‑election record, while another cut holdings after the succession news. The decision underscores FTI’s struggle to retain talent amid an exodus from its economic consulting arm, where former head Jonathan Orszag departed to launch a rival firm in the competitive consulting market, affecting client retention and revenue streams.

With Gunby set to steer FTI through 2029, the firm must address leadership fatigue and talent loss to sustain its past outperformance, or face declining investor confidence and a weaker market position amid tightening regulatory scrutiny and a shifting demand for economic advisory services globally.