KPMG Australia makes leadership changes amid scandal

• KPMG Australia appointed Michael Ebeid as its first independent chair following a whistleblower scandal.
• The leadership change has no immediate market impact, as the professional services firm operates as a private partnership.
• The appointment aims to restore governance and oversee an upcoming overhaul of the executive leadership team.

KPMG Australia appointed Michael Ebeid as its first independent chair to oversee an executive overhaul following a whistleblower scandal.

The appointment follows the resignation of former chair Martin Sheppard last week after the firm fronted a parliamentary committee.

“KPMG Australia needs leadership with the judgement, courage and integrity to restore confidence and deliver lasting change,” said KPMG Australia Independent Chair Michael Ebeid.

The firm stated that the incoming chief executive will have a clear mandate to refresh the executive team when appointed by the end of July.

Following the announcement, the KPMG Australia share price was unchanged, as the firm operates as a private partnership.

The leadership transition began in late May when former chief executive Andrew Yates resigned from the firm.

Interim CEO Stan Stavros currently manages the operations while the firm continues its search for a permanent successor.