Home News KPMG Appoints First Female Leaders in 150 Years

KPMG Appoints First Female Leaders in 150 Years

KPMG Appoints First Female Leaders in 150 Years

KPMG UK has appointed its first female leaders in its 150-year history, replacing boss Bill Michael who was forced to step aside.

Bina Mehta has been asked to step in as acting chairman and Mary O’Connor will take over Michael’s day-to-day executive responsibilities as acting senior partner. It is the first time in KPMG’s 150-year history that either role has been held by a woman.

Michael faces an investigation over alleged offensive remarks he made. He reportedly told consultants to “stop moaning” about the pandemic’s impact. Michael has stepped aside while the investigation is carried out into his alleged comments made during an online meeting on Monday.

It has also been reported that he told staff to stop “playing the victim card” dismissing staff concerns about job stress during COVID-19.

He later apologized, saying the comments did not reflect his beliefs. Michael has run KPMG UK since 2017 as chairman and senior partner.

The accounting giant, which employs more than 220,000 people globally, immediately began an “independent investigation” which will be carried out by law firm Linklaters.

His remarks triggered angry responses from some staff on an app used to post comments anonymously during the meeting.

Current and former KPMG insiders said they thought it was unlikely that Michael would return as Chairman, according to a report in the Financial Times. Michael, who was hospitalized with COVID-19 last year, was paid £1.7m in 2020, KPMG UK revealed last week.

The firm is also poised to tell staff that it will overhaul its unpopular performance rating system whereby employees are ranked according to a “forced distribution curve”. KPMG said its executive board decided to move away from a “fixed” distribution model at the end of January, instead of moving towards a more flexible system that will allow managers to assign more top ratings within their teams.

The change will go some way towards boosting morale within KPMG’s 19,000-strong workforce, with several insiders saying they were shocked, disappointed, or upset by this week’s events.

Eskalera, a Startup Led by Goldman Sachs’ Former HR Head Has Launched a Diversity and Inclusion Index

Eskalera, a technology startup led by Goldman Sachs former human resources head Dane Holmes, has launched an index to measure corporate diversity and inclusiveness,...

HSBC to Remove 35,000 Jobs Amidst Covid-19 Crises

HSBC Holdings Plc has restarted cutting as many as 35,000 jobs, three months after the coronavirus outbreak forced it to pause a long-awaited overhaul...

Genpact Offers Its Internal Skill Training Program Globally for Everyone

Genpact has announced Adapt and Rise, a role-based online learning platform that leverages Genpact's expertise honed from delivering real-world change for hundreds of clients....

San-Francisco Based Learning Platform Degreed Has Raised $32 Million in New Funding

The upskilling platform, Degreed, has announced $32 million in new funding in direct response to overwhelming demand for better skill insights, talent mobility, and...

Research Shows the Implications of Workplace Layouts on Employee Productivity and Overall Performance

As some workplaces prepare for the gradual return of employees and overhaul office layouts and seating plans, research has shown this could also have...

Employee Concierge ‘Back Technologies’ Integrates Automation Into Internal HR and Other Support Tasks

Companies are under increasing pressure to automate workflows and digitally service their employees, particularly in light of trends toward remote work. It takes an...

HR Strategies to Help Your Business Navigate the New ‘Normal’

No business is immune to the massive changes resulting from the health crisis. Organizations have proven themselves to be agile, and employees have demonstrated...

The Importance Of Diversity And Inclusion In HR, Hiring, Talent Management: Thoughts From A Top Expert

Michael C. Hyter is one of today’s best-known experts on inclusion and diversity and the author of The Power of Choice: Embracing Efficacy to Drive Your Career and The...

HR Expert Highlights Actionable Steps to ‘Make Real Change’ Against Racism in Your Workplace

Kyra Leigh Sutton, Ph.D., is a faculty member at the Rutgers University School of Management and Labor Relations, where she teaches human resources courses...

Adidas Employees Want Company to Investigate HR Chief for Response to Racial Issues

A group of Adidas employees from around the globe is asking the company to investigate its chief human resources officer, as part of a...