KPMG | Why are firms making THIS major leadership move?

Audit, tax and advisory giant KPMG UK is the latest firm to announce that it will divide the roles of Chair and CEO into separate positions going forward. The move, it says, is designed to “bring it in line with industry practice,” according to reports from Accountancy Today.

The major change, putting KPMG in line with most other corporations of a similar size, follows similar moves from the likes of Tesla and Allergan.

The firm, which forms part of the ‘big four’, is currently being helmed by Mary O’Connor, who before taking over as Interim Chief Executive, held the position of Head of Clients and Markets. An election process is currently underway to select a new permanent CEO – expected to be announced by the end of April.

But why are companies deciding to divide these historically partnered roles? The answer is twofold.