KPMG CEO, Trevor Hoole, resigns in wake of Gupta scandal

KPMG South Africa has undertaken a serious board clean-up in the aftermath of its dealings with the Guptas and the South African Revenue Service (SARS). Trevor Hoole (pictured), KPMG CEO in SA, was caught in the cross-hairs, and has since resigned. This, following a review of work done by the South African branch of the audit farm, which was carried out by its international arm.

Hoole said in a statement:

"Steven and I have taken the decision to step down, in the best interests of the firm as it rebuilds and moves forward. I absolutely understand that ultimate responsibility lies with me. KPMG South Africa is a firm of hugely talented people and I believe it is the right thing for me to stand down and allow a new CEO to restore public trust and build a firm that once again sets the standard for quality and ethics."

Hoole, who has held the CEO post since October 2015, will be replaced by Nhlamu Dlomu. Andrew Cranston, from the company's international network, will join Dlomu as interim chief operating officer.

KPMG has said that Mike Oddy (head of audit and a member), Muhammad Saloojee (head of tax and a board member), Herman de Beer (head of forensic and a board member), John Geel (head of deal advisory), and Mickey Bove (risk management partner for deal advisory) will also be leaving the company.