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Email reveals board appointments and the ousting of two top executives close to retirement.
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Incoming PwC Australia chief shuffles C-suite
06 July 2023
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Incoming PwC Australia chief executive Kevin Burrowes has shuffled the C-suite and moved to replace two of the firm’s leading executives, general counsel Meredith Beattie and risk leader Tony O’Malley, who were due to retire.
The Australian and the AFR reported the announcement came in an email Mr Burrowes sent to partners on Tuesday afternoon (4 July).
“Both Tony and Meredith had already indicated their intention to retire from the firm this financial year but have realised that these critical roles will require a substantial leadership commitment for the next two years,” the AFR reported Mr Burrowes said in the email.
The company’s lead partner for assurance quality and risk Jan McCahey would take over Mr O’Malley’s position as chief risk and ethics leader while the business’s next general council would be decided upon imminently.
“Jan is an experienced risk and quality leader and was previously PwC’s global leader for public policy and regulation,” Mr Burrowes wrote in the email.
“We will announce the new head of OGC (office of general counsel) shortly.”
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Ms Beattie helped lead the firm’s response to the tax leak and was one of the business’s top legal officers and long-time general counsel.
Mr O’Malley was only recently appointed head of PwC Australia’s risk and ethics division and the company said in its initial release that he would be “overseeing immediate changes and will lead the implementation of the external review’s findings.”
Mr Burrowes also said acting CEO Kristin Stubbins would remain on the executive board and take up the role of strategy and transformation leader. He praised her efforts in taking on the interim role during an “incredibly challenging time for the firm”.
The Australian reported other appointments to PwC Australia’s executive board would include assurance leader Sue Horlin, markets leader Tom Gunson, and people leader Catherine Walsh.
It also said financial advisory leader Rob Silverwood, chief operating officer Liza Maimone, and consulting leader David McKeering would remain on the board.
Mr Burrowes is expected to take up the CEO role on 17 July following the approval of his Australian visa.
“My key priorities will be to enhance the firm’s governance, accountabilities, and culture; restore our business performance; and re-earn the trust of our stakeholders and the broader community,” Mr Burrowes reportedly said in the email.
“I will also work closely with the board of partners and all of you to ensure we elect our next CEO in a suitable time frame.”
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