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KPMG appoints new CEO as massive job cuts loom
The board of KPMG Australia has appointed John Sams as chief executive effective immediately as the embattled firm prepares to cut hundreds of employees to counteract the loss of business from the whistleblower scandal.
Sams is from the tax, corporate finance and infrastructure advisory side of KPMG’s business which has not been implicated in the scandal where some of the firm’s most senior executives allegedly accessed confidential client information to win new customers.
“The Board believes that John has the strong attributes required to be the firm’s successful leader – including agility, courage and integrity,” independent chairman Michael Ebeid said.
KPMG announces new CEO following audit scandal fallout
KPMG has promoted long-term partner John Sams to chief executive, filling the role vacated when Andrew Yates resigned over the audit leaks scandal that has engulfed the firm since March.
Sams has been KPMG’s chief financial officer and a member of its local executive leadership team since last September and had firmed as favourite for the top job in recent weeks.
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Scandal-hit accounting firm names new chief executive
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A major accounting firm under intense scrutiny amid accusations it used confidential client information to win contracts, has appointed a new chief executive.
John Sams, KPMG Australia's chief financial officer and chief operating officer, will take over as chief executive effective immediately, the firm announced on Tuesday.
Mr Sams said he would work to provide confidence to clients and the firm's people, deliver on an action plan that KPMG Australia announced in June to address governance and integrity issues, and to engage constructively with a parliamentary committee and regulators.
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