Asia Pacific and Australian Chairman Succeeds Tim Flynn on Completion of His Term
Michael Andrew, 54, has been elected Chairman of KPMG International. He will lead the KPMG global network of professional services firms providing Audit, Tax, and Advisory services for a four-year term, effective October 1, 2011. He succeeds Timothy P. Flynn, who announced in January that after 32 years with KPMG, he would retire when his term as Global Chairman expired at the end of September 2011.
Michael Andrew, who will be based in Hong Kong, is currently Chairman of KPMG Asia Pacific and also of KPMG Australia; he was elected to his new role unanimously by KPMG International's Global Board and Council. In his 27 years with KPMG, Andrew has had broad experience in emerging markets, both in Eastern Europe and Asia Pacific, and has been a key driver of the Australian firm's robust growth. In recent times, he has been one of the architects of KPMG's global strategy.
Beginning in 2005, Flynn was elected to a five-year term as Chairman and CEO of KPMG LLP, the U.S. Audit, Tax, and Advisory firm. In addition, in 2007 he was elected as Chairman of KPMG International for a four-year term.
Michael Andrew said:
"It is a great honor to be elected Chairman of KPMG International. Tim Flynn has provided superb leadership these past four years and I look forward to building on his record of achievement. Under Tim's leadership, KPMG launched an ambitious growth strategy in 2010, and with our strategic blueprint firmly in place it's now about execution and winning in our key markets. I am passionate about KPMG and its capability for growth. Our key strength is the strong collaborative relationships KPMG member firms have with their clients. My primary focus will be developing and empowering our people so they can execute on our strategy and help KPMG's clients succeed in this increasingly complex world."
Tim Flynn said:
"I take great pride in announcing that Michael Andrew has been elected to succeed me as Chairman of KPMG International. Michael is an outstanding professional who brings an exceptional breadth of experience to the position, not only through his leadership role in Australia but with his expanding influence throughout the Asia Pacific (ASPAC) region. As the first Chairman of KPMG International from ASPAC, he reflects the increased importance of that region in the global economy. Without question, Michael will bring the knowledge and perspective that will continue to increase the ability of the KPMG network to meet the needs of clients around the world."
Stephen Yiu, Chairman, KPMG China, said:
"The appointment of Michael reflects the increasing importance of Asia-Pacific and emerging markets for KPMG's global business. China is one of KPMG's top global priorities and Michael's relocation to Hong Kong, the gateway to China, will add further momentum to our efforts and focus in this region."
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KPMG China has 13 offices (including KPMG Advisory (China) Limited) in Beijing, Shanghai, Shenyang, Nanjing, Hangzhou, Fuzhou, Xiamen, Qingdao, Guangzhou, Shenzhen, Chengdu, Hong Kong and Macau, with more than 9,000 professionals.
KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 150 countries and have 138,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
Michael J. Andrew: Biography
Michael Andrew is Chairman of KPMG Asia Pacific and Australian Chairman of KPMG since 2007, and is a member of KPMG's International Board and Global Executive Team.
Previously, he served six years as Managing Partner of KPMG Australia's Melbourne office and Deputy Chair of KPMG Australia from 2001-2007. He was Managing Partner of KPMG Australia's Tax Practice from 1997 to 2001.
Between 1992 and 1994, Michael served as Partner in Charge of the International Tax Centre and Executive of the Global Tax Steering Group in Amsterdam. During that time, he was a member of the East European Steering Group responsible for opening offices and establishing tax practices in Warsaw, Moscow, Budapest and Prague, oversaw the development of the Asia Pacific Tax Strategy, and was a member of the Audit Fee Sharing Taskforce.
He was a member of the KPMG Global Governance Review in 2008. He also was a member of the Compensation & Nomination Committee, was a member of its Risk and Compliance Committee 2009-2010, and now chairs the Governance Committee of the Board.
Michael was appointed Chairman of the ASPAC Region in April 2011. He was previously Chairman of the ASPAC Nominations and Remunerations Committee and a Board member since 2007. He was the ASPAC Tax Chairman from 1995 to 1997, was a member of Project Japan from 1985 to 2001, and is Chairman of the Korea Advisory Committee.
He is involved with the corporate governance, strategy, and risk management advice to many of Australia's leading companies.
Michael Andrew has an extensive range of business and community involvements. He is a member of the Business Council of Australia, Chairman of the Dowd Foundation, Chairman of the Business Working with Education Foundation, a Council member of the Australian Business Arts Foundation, the Olivia Newton John Cancer Centre Appeal, and the Prostate Cancer Foundation.
Michael is also Chairman of the National Sports Museum Advisory Board, a Director of Jawun Indigenous Corporate Partnerships, and an Ambassador for the Melbourne Community Foundation. As a member of the Business Council he is Chairman of the Education, Skills, and Innovation Taskforce and a delegate of its Indigenous & Business Reform Working Groups.
Michael is a graduate of Melbourne University where he completed a combined Law and Commerce Degree; he is a qualified Barrister and Solicitor of the Supreme Court of Victoria and a Fellow of the Institute of Chartered Accountants.
Timothy P. Flynn: Biography
Timothy P. Flynn is Chairman, KPMG International. Tim has held key leadership positions throughout the KPMG organization. Before becoming Global Chairman, he was Chairman and CEO, KPMG LLP, the U.S. member firm, and served as Global Managing Partner - Audit and Global Managing Partner for Human Resources, KPMG International. In these roles, he chaired the Global Audit and Human Resources Global Steering Groups, and was a member of KPMG International's executive team.
Tim started his career in KPMG LLP's Minneapolis office in 1979 and became a partner in 1988. He was the Midwest Area Partner in Charge of the Manufacturing, Retail, and Distribution practice and served as engagement partner on a number of public and venture capital-funded high technology companies.
In 2010 and 2009, Tim was named to Accounting Today's list of the Top 100 Most Influential People in Accounting. Also in 2010 and 2009, he was named to Directorship magazine's Top 100 Most Influential People in the Boardroom, and the National Association of Corporate Directors' Directorship 100 roster. Tim is a member of the Steering Committee to establish an International Integrated Reporting Committee.
He serves on the World Economic Forum's International Business Council (IBC), the IBC's G20 CEO Working Group for Reform of the International Monetary System, the TransAtlantic Business Dialogue, and he is a member of the International Advisory Board for the Moscow International Finance Center. Tim serves on the Board of Trustees and College of Business Strategic Board of Governors for the University of St. Thomas in St. Paul, Minnesota, where he earned his bachelor's degree in accounting.
In 2008, he served on the Advisory Committee on the Auditing Profession, established by U.S. Secretary of the Treasury Henry M. Paulson, Jr., which made recommendations to foster a more sustainable auditing profession. He is a founding Board member of the Center of Audit Quality and a former trustee of the Financial Accounting Standards Board.
He has spoken on leadership and ethics and integrity at a number of colleges and universities including Duke's Fuqua School of Business, Fordham, Howard, the Wharton School of Business, and Yale.