NEW YORK, April 21, 2015 /PRNewswire/ -- KPMG in the U.S. has elected Lynne Doughtie to serve as its next Chairman and Chief Executive Officer, for a five-year term starting July 1. Doughtie currently leads KPMG's Advisory business, and has distinguished herself in numerous leadership positions since launching her career in the firm's Audit practice three decades ago.
"It is an honor to have the chance to lead KPMG at such a pivotal moment, when ensuring quality and confidence in the work we do has never been more important," said Doughtie. "Our firm, our clients and the entire marketplace are looking at a future of unprecedented change and extraordinary opportunity, where 'business-as-usual' is going to mean constant innovation and transformation. I'm excited to team with our incredibly talented people, as we work closely with companies and other organizations to help them address their most complex challenges and opportunities."
Doughtie will succeed John Veihmeyer, who has served as U.S. Chairman and CEO since 2010 and simultaneously as Global Chairman of KPMG International since February of 2014. When Veihmeyer became Global Chairman, he indicated that he would serve the remainder of his term as U.S. Chairman and CEO through its close on June 30, 2015, before focusing exclusively on his international role. He will continue to be based in the U.S. as he leads KPMG globally.
"Lynne Doughtie is an incredibly innovative, thoughtful and inspiring leader, who has the exact qualities needed to lead our firm and our people in a time of increasing complexity and change," said Veihmeyer. "She has been a key member of our management team during a period in which we have built a strong culture within KPMG, that promotes integrity, high performance, and diversity and inclusion, and I know Lynne will continue to champion these values. She has led our U.S. Advisory practice to unprecedented levels of success and established it as KPMG's fastest growing business. Lynne will be an extraordinary and inspiring leader for KPMG and our people. I'm also pleased that she will be joined by P. Scott Ozanus, who will continue in his role as Deputy Chairman and Chief Operating Officer. Scott has been a true steward of the firm and has been instrumental in the development and execution of our strategy and the unprecedented growth the firm has experienced over the last several years."
Doughtie, 52, becomes Chairman and CEO of KPMG at a time of tremendous momentum for the firm. With strong growth across all three of its businesses, KPMG was the fastest growing Big Four firm in the U.S. for fiscal year 2014. The firm also surged 17 spots to become the highest ranked of the Big Four on Fortune magazine's prestigious list of the "100 Best Companies to Work For" in 2015, and it continues to expand through strategic alliances, the hiring of key talent, and numerous acquisitions.
Doughtie joined KPMG's Audit practice in 1985 and went on to serve in a number of national, regional and global leadership roles, including as the lead engagement partner for some of the firm's major clients. She is a member of the U.S. firm's Management Committee and KPMG International's global Advisory leadership team. Since 2011, she has led KPMG's Advisory business in the U.S., charting a path of tremendous growth, including the establishment of market-leading positions in business and risk consulting and transaction advisory services. She has also overseen the expansion of KPMG's capabilities in innovative services and solutions, including information security, strategy, digital/mobile and transformation.
Doughtie has been recognized with numerous honors and awards throughout her career, including being named one of Consulting Magazine's "Top 25 Consultants" and "Top Women Leaders in Consulting." She was also featured in Profiles in Diversity Journal's "Women Worth Watching," and recognized in Accounting Today's "Women in Accounting."
She is a proud graduate of Virginia Tech, where she earned a Bachelor of Science degree in accounting. She remains an active alumnus, and is past president of the Advisory Board of the school's Pamplin College of Business and a member of the Accounting and Information Systems Advisory Board. In 2007, she was awarded the Distinguished Alumnus Award, for outstanding career accomplishments and contributions to the college. Doughtie has earned CPA certification in Virginia and New York and is a member of the American Institute of Certified Public Accountants.
P. Scott Ozanus, 55, has been re-elected Deputy Chairman and Chief Operating Officer, a position he has held since 2012. Ozanus, who led KPMG's Tax practice before becoming Deputy Chairman and COO, has played a critical role in the development and execution of the firm's strategic initiatives. He will continue to be instrumental in the firm's efforts to strengthen existing services and expand into new and innovative areas through investments, alliances and acquisitions.
Ozanus joined KPMG's Tax practice in 2002, after more than 20 years at Arthur Andersen, to serve as Dallas office Managing Partner and Southwest Region Tax Managing Partner. In 2005, he took responsibility for management of the firm's three major businesses in the Southwest Region, and subsequently became the Vice Chair in charge of the Tax practice in 2010. Under his leadership, the Tax practice became the fastest growing among the Big Four. He is the account executive for a number of KPMG's largest and most significant clients.
Ozanus embodies KPMG's commitment to its communities, having served on several Dallas area boards, including the United Way of Metropolitan Dallas, the Heart Hospital Baylor-Plano, and the Cox School of Business. He currently serves on the board of Children's Health System of Texas, Dallas, Texas. He holds a B.B.A. degree in accounting from Texas A&M University; is a licensed CPA in Texas, Oklahoma and New York; and is a member of both the Texas Society of Certified Public Accountants and the American Institute of Certified Public Accountants.
"KPMG has experienced a period of extraordinary growth and success, and we've done it by focusing on quality service to clients, building a strong culture of professionalism and integrity, and developing a strategy that allows us to be proactive in a fast-changing, dynamic and transforming marketplace," said Ozanus. "I am very proud to continue to serve as Deputy Chairman and COO of this incredible firm, and to work alongside Lynne Doughtie in her role as Chairman and CEO, as we continue to thrive and accelerate our growth for years to come and create opportunities for those who will come behind us."
The election of Doughtie and Ozanus was ratified by the KPMG partnership in a vote completed Monday, April 20.
KPMG is one of the world's leading professional services firms, and the fastest growing Big Four accounting firm in the United States. Our global network of 162,000 professionals serves clients in 155 countries, providing innovative business solutions and audit, tax and advisory services to many of the world's largest and most prestigious organizations, including more than 80 percent of the Fortune Global 500 companies.
KPMG is also widely recognized for being a great place to work and build a career. Last month, for the eighth time in nine years, KPMG was named one of the country's "100 Best Companies to Work For" by Fortune magazine, advancing 17 spots on this prestigious annual list to become the highest ranking of any Big Four accounting firm.
Our people share a sense of purpose in the work we do, and a strong commitment to community service, diversity and inclusion, and eradicating childhood illiteracy.
According to analysis by industry publications Accounting Today and International Accounting Bulletin, KPMG's 12% year-over-year revenue growth in fiscal 2014 makes it the fastest growing Big Four firm in the U.S. Each of KPMG's three primary businesses contributed to the strong growth. Revenue from its Advisory business grew 18% in fiscal 2014, with 7% growth recorded in Audit, and 10% in Tax.
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KPMG LLP is the U.S. member firm of KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.