Loss of partner at accounting firm Greenwalt Sponsel results in new name

Greenwalt Sponsel & Co. Inc. has changed its name to Greenwalt CPAs, following the departure of a top partner from
the Indianapolis-based accounting firm.

Tom Sponsel launched Sponsel CPA Group in September and is leasing 10,000
square feet of office space at the Gateway Plaza building at 950 N. Meridian St.

A disagreement over the direction
of Greenwalt Sponsel’s succession plan led Sponsel to leave, he said following his exit.

Current Greenwalt
Managing Partner Larry Greenwalt acknowledged Sponsel had been expected to succeed him as the firm’s leader in January
2011. But he said in September that Sponsel failed to deliver on certain commitments and even contemplated leaving the firm.

Before Sponsel’s departure, Greenwalt had 31 certified public accountants and 59 full-time employees, ranking
it as the 11th-largest accounting firm in the city, according to the most recent IBJ statistics. Sponsel took at
least three partners with him.

Greenwalt’s origins date to 1945. It had been known as Greenwalt Sponsel since
1987.