KPMG UK appoints new CEO

KPMG U.K. picked Jon Holt as its new Chief Executive Officer, replacing Bill Michael, who resigned after telling employees to “stop moaning” about the pandemic.

Holt was appointed “with overwhelming support” following a vote by partners, the firm said in an emailed statement. He will start in his new role immediately and will serve until the end of September 2025, KPMG said.

Holt is currently KPMG UK's head of audit. He will take up the new role immediately and serve a tenure until 2025. "I’m very grateful for the support of the partnership and excited about the future for our firm," Holt said in a statement.

“KPMG has a great opportunity, as we exit the pandemic, to support our clients and help them build and grow their businesses during this period of profound change. I am confident that KPMG has the people, skills, and expertise to grasp this opportunity."

In February, KPMG’s then Chairman Michael resigned days after sparking widespread anger for telling employees to stop grumbling after they voiced concern over possible cuts to their pay and pensions. After he told KPMG’s financial services consulting team during a virtual meeting to stop “playing the victim card,” he was put under investigation by the firm.

KPMG later that month decided to split the roles of chair and chief executive, with Bina Mehta taking the role of chair of its U.K. board for the next 12 months.

Bina Mehta, who took over from Michaels as chair of KPMG UK, shared with media, "Jon’s extensive experience and inclusive leadership style mean he is well placed to deliver the next stage of our growth strategy and support our clients as the country emerges from the pandemic.”