PwC Australia appoints John Green as first independent chair
Make us a preferred source
Make us a preferred source on Google
The news: PwC Australia has announced its first independent governance board chair and board member, in a first for an Australian big four professional services firm.
The context: Former Macquarie Group executive director John Green has been named as independent non-executive chair of the governance board, replacing incumbent chair Justin Carroll, who will step down this month.
Lisa Chung will also join the board on 1 September as an independent non-executive board member.
This follows the implementation of new reforms aimed at strengthening the board’s independence, oversight powers and duties.
Green has previously served on boards across numerous industries, and is currently a director of Challenger and Cyber Security Cooperative Research Centre, while chairing UOW Global Enterprises and Pantera Press, an independent book publisher.
Chung is currently the chair of Australian Unity, and sits on the boards of AVJennings, the Committee for Sydney, the Foundation of the Art Gallery of NSW, The Front Project, the Sydney Community Foundation and Artspace.
PwC Australia noted that the process to appoint a third non-executive to the firm’s governance board is "well progressed".
The firm also announced the appointment of boutique independent law firm Webb Henderson as its independent monitor to verify progress made on its 'Commitments to Change Action Plan'. The Webb Henderson team of senior lawyers will be supported by former NSW Supreme Court chief justice Tom Bathurst.
The governance board is one of a number of actions PwC Australia has taken to strengthen the firm's governance, accountability and culture following its tax leaks scandal.
What they said: Outgoing chair Carroll said: "Together, John and Lisa bring enhanced levels of independent thought and governance experience to our governance board, facilitating more robust challenge and oversight of our firm."
"Their contributions should mean decisions impacting the future of the firm are scrutinised with more independent eyes, holding management to a similar level of accountability as top tier ASX-listed companies," he said.
PwC Australia CEO Kevin Burrowes said: "While we still have a lot to do, these are significant and meaningful steps which will ensure we are bringing the best of our multidisciplinary model to our clients and creating a working environment for our people to thrive in".
The source: PwC media release
