KPMG LLP’s 1,600 partners have ratified the election of Timothy P. Flynn, 48, as chairman and chief executive, and John B. Veihmeyer, 49, as deputy chairman and COO of the U.S. audit, tax and advisory firm.
“John and I are honored that KPMG’s partners have put their confidence in our leadership,” said Flynn. “We’re committed to pursuing a path of meaningful change-further building upon Gene O’Kelly’s legacy of reform during a period of immense challenge for our profession.”
As announced earlier, KPMG’s leadership transition was initiated on June 5, after the decision by Eugene D. O’Kelly, 53, who has served as chairman and chief executive since 2002, to step down from that role in order to deal with a recent diagnosis of advanced cancer. “We must also express our deep appreciation to Gene O’Kelly and Joe Mauriello for their outstanding commitment and contribution to KPMG. On behalf of the KPMG family, we extend our thoughts and heartfelt prayers to Gene and his family at this challenging and difficult time,” Flynn said.
Also announced earlier, deputy chairman Joseph Mauriello, 60, relinquishes his position, since the firm’s partnership agreement provides that the chairman and deputy chairman are elected jointly. Mauriello will remain a partner of the firm, consistent with his previously announced intention to retire in 2006.
Tim Flynn, 48, KPMG LLP chairman and chief executive, previously served as vice chair, Audit & Risk Advisory Services for KPMG LLP, and had operating responsibility for the firm’s audit practice, as well as its risk advisory services and financial advisory services practices. Prior to that, he served as vice chair, human resources. A 26-year veteran of KPMG, Flynn was elected to the partnership in 1988.
John Veihmeyer, 49, KPMG LLP deputy chairman and COO, was formerly the managing partner of KPMG’s Washington, D.C. office as well as the mid-Atlantic area managing partner for Audit and Risk Advisory Services. In late 2003, he was elected to KPMG’s board of directors and was named chairman of the KPMG Foundation. Veihmeyer joined KPMG in 1977 and was elected to the partnership in 1987.