KPMG. Picture: BLOOMBERG NEWS/TANNEN MAURY
KPMG. Picture: BLOOMBERG NEWS/TANNEN MAURY

KPMG SA has appointed Ignatius Sehoole as its new CEO, effective on May 1.

Sehoole, former deputy CEO of PwC Southern Africa, will fill the leadership vacuum left by Nhlamulo Dlomu. In October KPMG said Dlomu was earmarked for a “global role”.

Sehoole, a qualified chartered accountant who served two terms as executive president of the South African Institute of Chartered Accountants, is expected to be the experienced hand that KPMG needs to steady its ship in SA.

The auditing company lost high-profile clients after its reputation was gutted by its association with the Gupta family as well as a flawed report that helped weaken the SA Revenue Service (Sars) amid state capture allegations. Officials were also implicated in the VBS Mutual Bank saga. 

KPMG executive chair Prof Wiseman Nkuhlu said the auditing firm’s board felt it was important to appoint an external candidate with strong industry credentials to the firm.

“Ignatius will be able to build on the foundations Nhlamu established to restore trust in KPMG. He will also participate in efforts to reposition the profession with clients and the public,” said Nkuhlu.

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.”

He said his priority will be to restore client confidence and make KPMG an employer of choice again. KPMG said Sehoole’s start date was pushed to May in order to comply with the requirements of audit independence.

buthelezil@businesslive.co.za