KPMG SA selects new CEO to help with its restructuring process

Following the resignation of Nhlamu Dlomu in October this year, KPMG has announced the appointment of former PwC executive Ignatius Sehoole as its new CEO in South Africa. Sehoole will only take office in May of next year due to complications with audit independence rules.

Sehoole is a Chartered Accountant and holds a Certificate of Theory in Accountancy from the University of South Africa. Between 2000 and 2009, Sehoole rose significantly in prominence across the accounting world in South Africa, after he was appointed as executive president of the South African Institute of Chartered Accountants (ICA).

Professionally, Sehoole has worked for highly illustrious firms in South Africa and around the world. He completed his articleship at Big Four accounting and advisory firm Deloitte, following which he joined Transnet where he ascended to the position of Risk Audit Manager over a two-year spell.

He then moved to Inland Region, where he served as Managing Director for a five-year period. After completing his tenure as the Executive President of the ICA, Sehoole worked as a Joint Deputy Chief Executive at PwC, serving on the firm’s executive company.

Since leaving PwC, Sehoole has worked as the Vice President of the MTN Group for the region of South & East Africa, following which he was appointed the Group Executive of Business Risk Management at the telecom company. He will now take over qaas CEO of KPMG South Africa as of May 2019.

Commenting on his appointment, Sehoole said “I am very honoured and look forward to the opportunity to help lead KPMG SA. It is imperative that the profession rises to the challenges it is facing, and it is in the national interest that KPMG be part of the solution.”

“My priority at KPMG will be to continue to restore client confidence and again make KPMG a firm where the best people wish to work. I look forward to the opportunity to accelerate this rehabilitation phase,” he added. His appointment comes after Nhlamu Dlomu stepped down in October, following a steady loss of business resulting from the Gupta scandal last year.

KPMG has been rebuilding and restructuring for over a year, and will hope that Sehoole’s experience and expertise will help with the process. As per the firm, his delayed date of starting is due to the fact that he has served at firms audited by KPMG during the current financial year.