BL Premium reports that KPMG has picked an insider to take over as CEO of the SA division, betting on institutional memory for the firm that faced an existential reckoning after being engulfed in the state capture scandal.

Joelene Pierce’s appointment follows the planned retirement of Ignatius Sehoole, who led the firm through a reputation overhaul. “I am extremely grateful and honoured to take on this new role and build on the strong foundations created during Ignatius’ tenure. I am committed to remaining focused on transformation and ethical practice, as well as embedding critical thinking into the business,” said Pierce.

KPMG’s crisis stemmed from the state capture investigations in 2017 and 2018, which exposed ethical lapses and governance failures. As confidence collapsed, the firm lost hundreds of staff and suffered revenue losses when blue-chip clients turned their back on it. When Sehoole assumed the reins in 2019, he inherited an organisation in free fall, compounded by its involvement in the collapse of VBS Mutual Bank.

Pierce, who starts next March, leads the KPMG financial services division and sits on the firm’s policy board. She has a 26-year tenure with the company – 19 of those years as a partner.

• Read the full original of the report in the above regard by Tiisetso Motsoeneng at BusinessLive

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