Originally an exclusive with NBJ.

By Ian Bradley – Reporter, Nashville Business Journal

LBMC PC CEO and managing shareholder Jeff Drummonds will step down from his position on Jan. 1. He will stay on with the company and shift his focus to strategic growth efforts.

He will be replaced by James R. Meade Jr., who has been with the firm for 24 years.

“Jim will lead LBMC forward at a time of continued growth and opportunity for our clients and for our firm,” Drummonds said in a press release. “He was the ideal choice because he understands the value of people and relationships, which comes first in our business. He knows attracting talent to LBMC is imperative to bringing in great clients, and great clients lead to even greater talent.”

Drummonds, speaking to the Business Journal, said he’d planned to step away in 2024 for some time, and the plan to transition to new leadership has been underway for two years.

Meade, a certified public accountant, has served as the leading shareholder in the firm’s audit and advisory division and spearheaded LBMC’s technology industry segment. He’s managed audit services for venture capital and private equity firms and their portfolio companies, focusing on technology startup enterprises, growth stage companies and acquisition-oriented businesses. He also serves on the company’s board of directors and leadership committees.

“I’m very proud of the impact that LBMC has had on the lives of our clients and of our employees and their families,” Meade said in a statement. “LBMC has accomplished great things, and I’m honored to have the opportunity to continue the momentum and excited to see where LBMC goes from here.”

This mark’s the firm’s second leadership transition. Co-founders Mike Cain and David Morgan jointly led the company from its inception in 1984 through 2015, when Drummonds became CEO.

LBMC is the largest technology services firm in Nashville, according to Business Journal Research, and the second-largest accounting firm. The firm has approximately 10,000 clients across a range of industries including health care, manufacturing, technology and private equity.