KPMGI Makes New Appointments In The Team

KPMG International (KPMGI) appoints Timothy P. Flynn, 52, as Chairman of its newly formed Global Executive Team (GET), in addition to his duties as Chairman of KPMGI's Global Board, its principal governing body. With Flynn's increased global role, John Veihmeyer,

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KPMG International (KPMGI) appoints Timothy P. Flynn, 52, as Chairman of its newly formed Global Executive Team (GET), in addition to his duties as Chairman of KPMGI’s Global Board, its principal governing body.

With Flynn’s increased global role, John Veihmeyer, 53, Deputy Chairman of KPMG LLP (U.S.), will assume the role of CEO of the U.S. member firm, overseeing day-to-day operations. Flynn will remain as Chairman of KPMG LLP. Flynn and Veihmeyer were elected to their roles in the U.S. firm in June 2005. Flynn was appointed Chairman of KPMGI and Veihmeyer was appointed Chairman of the Americas region in October 2007.

The formation of the Global Executive Team was one of several governance enhancements recently adopted by the Global Board of KPMGI, in response to the constantly changing external environment. It will serve to implement the strategy as approved by the Global Board and enhance global consistency across the KPMG network of firms.

Consistent with the U.S. firm’s governance, the leadership change naming Veihmeyer as CEO was ratified by the U.S. partnership in late December 2008.

Prior to being named deputy chairman for KPMG LLP and Chairman of the America’s region for KPMGI, both positions he will continue to hold, Veihmeyer served as KPMG’s Area Managing Partner for the Mid-Atlantic region, and Managing Partner in Washington, D.C.

John Harrison was named to the newly created position of Deputy Chairman for KPMGI, to work closely with the Chairman in supporting the execution of his global responsibilities.

“I’ve had the opportunity to work very closely with John since we were both elected to lead the U.S. firm in June 2005,” says Timothy P. Flynn. “John has extensive experience dealing with the complex needs of our clients as well as the ability to assure that we have talented, motivated and skilled professionals to serve those clients. He is an outstanding leader and professional.”

“The new Global Executive Team replaces a previous structure with two separate management bodies. The team will develop and drive the strategy approved by the Global Board,” continues Flynn.

“This new team reflects how KPMGI’s new governance structure is designed to enhance our Member Firms’ ability to compete more effectively in the global marketplace, and facilitate the development and delivery of coordinated services to their multi-national clients.”

“I’m privileged to be assuming these increased responsibilities as Tim and I continue to lead the U.S. firm together,” says John Veihmeyer. “The external environment has clearly redefined the landscape, presenting KPMG with a unique opportunity to work closely with clients as they deal with increasingly complex financial reporting requirements, as well as issues that include conserving cash, restructuring their businesses, optimizing their cost structure, growing their businesses for the long term, and reacting to changing regulatory models. “

L.D.

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