Bonadio Group forges succession plan that includes CEO change in three years

ROCHESTER, N.Y. — The Bonadio Group has announced a succession plan that will have Thomas (Tom) Bonadio, the firm’s founder, “handing over the CEO role in three years.”

The Rochester–based firm, which operates an office in Syracuse, describes itself as upstate New York’s “largest independent provider of accounting, consulting, and financial services.”

The firm’s partners voted to have long-time employee Bruce Zicari assume the role of CEO on May 1, 2019. The Bonadio Group on May 1 of this year named Zicari a managing partner of the Rochester office.

Tom Bonadio “will continue to mentor Zicari” over the next three years, the firm said in its news release issued Friday.

“Bruce Zicari is the perfect individual to succeed me as our next CEO,” Bonadio said. “He will have more than 25 years with the firm when he assumes that role, but he still will be young enough to continue in that position for another 15 to 20 years. His skill set and knowledge of how we operate will make him an outstanding leader for The Bonadio Group for many years into the future.”

Tom Bonadio also emphasizes he has “no plans” to retire.

“It’s time to implement our plan for the succession of our firm’s leadership. It’s a plan that has been meticulously designed to keep the company on track with our overall strategic plan, and will work as a seamless transition over the next three years.”

As a managing partner in the Rochester office, Zicari will work with Bonadio COO Robert Enright to oversee the administration and operation of the Bonadio Group’s headquarters.

In addition, Zicari will continue to lead the firm’s small-business advisory state-wide practice.

Besides the CEO succession, the firm announced that Mario Urso became chairman of the Bonadio Group’s board of directors on May 1.

“Mario has more than 25 years with the firm, and he has the skills and trust of our partners to lead our board,” Bonadio said in the release.

As chairman, Urso will lead the Bonadio Group board of directors and set the “strategic” direction for the firm.

In addition to that position, he will still co-lead the firm’s healthcare/tax-exempt practice.

“Mario and Bruce will continue to operate the Bonadio Group through the lens of our strategic business philosophies,” said Bonadio. “They will work closely with each other in an effort to continue to lead the firm down this path of success … not only for our employees, but also for our growing roster of clients.”

The Bonadio Group now serves more than 17,000 clients on a “local, national, and international scale,” with an employee base of more than 700 people across New York.

The publication Accounting Today recently recognized the firm as the 38th largest certified public accountant (CPA) firm in the nation, with revenue of about $100 million.

Contact Reinhardt at ereinhardt@cnybj.com