Business this week

Bob Sternfels was selected by the partners at McKinsey as their new global boss, following the defenestration of Kevin Sneader in the leadership ballot. Mr Sneader had tried to introduce more oversight of the firm’s consultancy work after several scandals dented its reputation, not least the advice it gave to Purdue Pharma on how best to push sales of OxyContin. Mr Sternfels says he is committed to continuing the reforms Mr Sneader started.