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KPMG South Africa has decided to get rid of its chief executive Nhlamu Dlomu, barely a year after she was appointed, and is said to have shortlisted a number of executives to replace her.
KPMG confirmed through a statement that Dlomu would be moved from the position and given a new “global role” focusing on organisational culture and ethical leadership.
“She will work with Bill Thomas, KPMG’s global chairperson, and the global management team in executing the firm’s global strategic priorities. 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 its prospects of rebuilding trust. A search to identify a successor is well advanced. In the interim, Professor Wiseman Nkuhlu will serve as executive chairperson,” KPMG said.
Nkuhlu said the company was indebted to Dlomu for her exceptional 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. I know that KPMG International will benefit tremendously from her considerable personal and professional skills,” he said.
“We have, under Dlomu’s leadership, already taken many steps to improve the firm, and we need to do more. The challenges facing our industry have grown and we are focused on appointing a candidate who will help restore confidence in KPMG in this changed environment. I have great faith in the strengths of KPMG and our ability to play a positive role in South Africa.”
Dlomu said leading the company 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. I look forward to sharing the South African experience with the global body of KPMG, and I’m pleased to be able to continue to support the firm during the transition.” she said.
Dlomu, who was appointed a year ago to do damage control after the firm was plunged into a reputational disaster and a number of executives jumped ship including former chief executive Trevor Hoole. The other executives were Ahmed Jaffer, Mike Oddy, Muhammad Saloojee, Herman de Beer, John Geel Mickey Bove, Jacques Wessels and Steven Louw.
Shortly after her appointment last year the company’s then interim chief operating officer, Andrew Cranston said her appointment was something that was already in the pipeline and she was not just promoted ‘to buy face’.
According to a source, one of the candidates tipped to replace Dlomu is an executive from one of the company’s major competitors.
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