KPMG SA Appoints New Executive Director

KMPG South Africa announced on Wednesday morning that it has named Ignatius Sehoole the new CEO.

Sehoole, expected to take office on May 1, 2019, will succeed Nhlamulo Dlomu.

"I am very honored and look forward to helping run KPMG SA. It is imperative that the profession meets the challenges it faces and it is in the national interest that KPMG be part of the solution, "he said in a statement.

"My priority at KPMG will be to continue to restore customer confidence and to make KPMG a firm where the best people want to work, and I look forward to accelerating this phase of rehabilitation."

The company said in a statement that Dlomu would badume a "new global role with KPMG, focused on organizational culture change and ethical leadership." He first announced that Dlomu would be replaced as CEO in early October.

He did not say what would be his new role.

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Allegations that the SA branch of the audit firm was complicit in the state capture because of its previous audits of Gupta-related entities and its work on the hammering report.

In September 2017, the company eliminated a large portion of its top executives and appointed Dlomu as its head. After apologizing for "failing to meet the standards we set ourselves", a number of local businesses have stopped using it as external auditors.

He was suspended from Business Leadership South Africa in September 2017. The suspension was lifted last month. BLSA commended the company's commitment to change and transparency.

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