PracticeAuditKPMG Europe loses CFO in Dutch rebellion

KPMG Europe loses CFO in Dutch rebellion

The soon-to-be formed KPMG Europe has found itself without a head of finance, following the surprise vote by the Dutch against joining the group

KPMG Europe’s head of finance and infrastructure was set to be Dutch CFO Jaap
van Everdingen, but KPMG Holland voted narrowly against joining the group, which
is officially formed on 1 October.

A vote among the 220 partners saw them one vote short of the two-thirds
majority required.

A replacement for van Everdingen has not been made, however the role could be
taken on by one or both of his second-in-commands, German CFO Hans Zehnder and
UK CFO Mike Blake.

But the role could be temporary, as Accountancy Age understands that if the
Dutch firm was to join later, it would expect to have representation on the
board.

UK and German senior figures dominate KPMG Europe’s board structure. Dr
Joachim Schindler is the group’s head of audit, while Sue Bonney from the UK
firm is head
of tax.

COO Colin Cook oversees the seven heads, with the firm jointly chaired by
John Griffith-Jones and professor Rolf Nonnenmacher.

The merger of the UK, German and Swiss firms will create a £2bn business by
fee income.

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