YHB chooses next CEO

Winchester-based accounting and consulting firm Yount, Hyde & Barbour Principal Tom Milburn will become the firm’s CEO on Oct. 1, succeeding CEO Scott Moulden. YHB announced Milburn’s election by its board on Tuesday.

“As part of our new strategic plan, the YHB board recognized that there is value to identifying the next CEO ahead of the end of my term,” Moulden said in a statement. “This would provide time for necessary client transitions, overlap in key projects, involvement in the updated strategic plan and to pursue executive leadership training.”

Each YHB CEO serves a five-year term. Moulden’s term ends in September, and he will continue working in various leadership roles at YHB. Under Moulden’s leadership, YHB acquired five accounting firms, grew its headcount from 170 to more than 300, expanded into Maryland and developed a C-suite.

Milburn joined YHB in 1997. He has served on the firm’s diversity council, innovation committee, human resources committee and board of directors. Milburn holds a bachelor’s degree in liberal arts and sciences and a master’s degree in accounting from Virginia Tech.

“Scott and our team of talented professionals have put YHB on solid footing to become a major regional powerhouse in the accounting world,” Milburn said in a statement. “I look forward to strengthening connections and communication with our community of clients and colleagues as YHB keeps innovating and growing.”

YHB also announced the appointments of three department leaders:

• Elaine Cain, tax department
• Matthew Smith, audit department
• Dorrie Franzello-Kurtz, client accounting and advisory services

Established in 1947, YHB offers accounting, auditing, tax, wealth management and risk advisory services. As of Jan. 1, 2022, YHB was the 11th largest accounting firm in Virginia by number of CPAs in the state. Its fiscal year 2022 revenue was $48.84 million.