KPMG SA is set to get a new CEO
KPMG South Africa is set to get a new leader‚ the company said on Wednesday.
KPMG announced in a press release on Wednesday morning that chief executive Nhlamulo Dlomu would take up a “new global role focusing on organisational culture change and ethical leadership”.
The board decided they wanted a chief executive from outside the firm to rebuild trust “given the scale of the reputational challenges facing both KPMG and the industry”.
Dlomu was appointed in August last year.
“Although it has been challenging‚ we have managed to stabilise the business. This would not have been achieved without the loyalty of our clients‚ the commitment of KPMG partners and staff‚ as well as the invaluable input of the business community‚ civil society and the larger South African public‚” Dlomu said.
Bloomberg reported the firm is continuing to lose staff and clients more than a year after they issued a public apology for some of the work it did in the country‚ according to people familiar with the matter. This includes some of the work it did for the Gupta family‚ who are accused of using political connections to score lucrative government contracts.
The firm was also forced to withdraw the findings of a report it compiled for the South African Revenue Service (Sars) that was used as evidence in a police probe against former finance minister Pravin Gordhan.
Company chairperson Wiseman Nkuhlu thanked Dlomu for her “contribution to the rebuilding of KPMG in South Africa over the past year”.
“She displayed courage‚ integrity and sound judgment at a time of great challenge. She helped rebuild the foundations of the firm’s reputation and refocused it as a purpose-driven organisation more aligned to the public interest.”
Nkuhlu said the search for a CEO was under way. He will serve as executive chairperson in the meantime. Dlomu will now work with KPMG global chairperson Bill Thomas.