KPMG chief quits after telling staff to stop moaning
THE chairman of accountancy giant KPMG’s UK arm quit yesterday over a “moaning” gaffe.
Bill Michael, 52, a senior partner, will leave at the end of the month.
This comes after the Australian told staff who have been working remotely not to “sit there and moan” about Covid-19.
During a conference call, he also told them to “stop playing the victim card” over concerns about possible cuts to pensions, pay and bonuses.
His comments were first reported in the Financial Times.
Mr Michael stepped aside earlier this week while an investigation was carried out. Announcing his departure yesterday, he said: “I love the firm and I am truly sorry that my words have caused hurt amongst my colleagues, and for the impact the events of this week have had on them.
“In light of that, I regard my position as untenable and so I have decided to leave the firm.” He also reportedly spoke about meeting clients for coffee during the pandemic, prompting one person on the call to tell the FT: “He literally said ‘I know I’m breaking the law’ to meet up with people during the pandemic.” Mr Michael was himself admitted to hospital with Covid-19 last year.
His statement yesterday also said: “It has been a privilege to have acted as chair of KPMG.
“I feel hugely proud of all our people and the things they have achieved, particularly during these very challenging times.”
Contribution
Two senior KPMG members, Bina Mehta and Mary O’Connor, will take over Mr Michael’s duties between them, becoming acting chairwoman and acting senior partner respectively.
Ms Mehta said: “Bill has made a huge contribution to our firm over the last 30 years, especially over the last three years as chairman, and we wish him all the best for the future.”