The company says that given the scale of the reputational challenges facing both KPMG and the industry, a new CEO from outside the firm would optimise prospects of rebuilding trust.
Audit firm KPMG South Africa said on Wednesday chief executive officer Nhlamulo Dlomu would be stepping down and it would be seeking an external head to spearhead the company quest to repair its reputation.
Dlomu was appointed last year after KPMG suffered reputational damage over work it did for companies owned by the controversial Gupta family and for the national revenue service. It fired its previous leadership over the scandals.
“Given the scale of the reputational challenges facing both KPMG and the industry, the board has decided that a new chief executive from outside the firm, with strong industry experience, will optimise prospects of rebuilding trust,” the company said on Wednesday.
“A search to identify a successor is well advanced. In the interim, Professor Wiseman Nkuhlu will serve as executive chairman.”
KPMG said Dlomu would work with global chairman Bill Thomas and the global management team in executing on the firm’s global strategic priorities.
“It has been a huge privilege to lead KPMG this past year,” Dlomu said.
“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.”
Nkuhlu said KPMP had, under Dlomu’s leadership, already taken many steps to improve the firm, but that more was needed.
“The challenges facing our industry have grown and we are focused on appointing a candidate who will help further restore confidence in KPMG in this changed environment,” he said. The Ciziten.
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