KPMG U.K. Picks New CEO After Predecessor’s ‘Victim Card’ Remark

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 picked “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.

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.

Since joining the firm in 1994, Holt has led several of KPMG’s largest business units and most recently held the role of head of audit, overseeing 7,000 people, the firm said.

©2021 Bloomberg L.P.

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