Wednesday 31 March 2021 12:52 pm

KPMG UK nominates audit head Jon Holt for chief executive role

The board of KPMG UK has nominated Jon Holt for the role of chief executive, following the resignation of Bill Michael last month.

Holt is currently KPMG UK’s head of audit, where he oversees 7,000 people, and chair of the firm’s executive committee for audit.

Prior to that, he was KPMG UK’s head of financial services, and before that a senior partner at KPMG’s Manchester office. He joined KPMG in 1994.

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KPMG said the decision to nominate Holt followed an “extensive” nominations process, that included interviews with potential candidates, an independent assessment and undertaking partner views through surveys and soundings.

A partnership approval vote will now be held, with the result to be announced on or before 14 April. If approved, Holt will take up the role immediately.

KPMG UK chair Bina Mehta said: “Jon was the outstanding candidate and met all the criteria we laid down at the start of our nomination process.

“We took on the views of our partners as well as using external expertise as part of the process. Jon knows our firm inside out and is a first-class leader… I know our partners will benefit from Jon’s experience, expertise and his inclusive leadership and I’m delighted he has agreed to put his name forward for the role of chief executive.”

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The search for a new leader came after former CEO and chair Bill Michael resigned after facing backlash for telling staff to “stop moaning” about working conditions during the Covid-19 pandemic.

Michael also described unconscious bias training as “complete crap”.

Holt will need to win the approval of 50 per cent of partners in order to nab the CEO role.