A new CEO has been parachuted in to run the embattled consultancy firm PwC Australia, which is offloading its money-making government consultancy business for $1 (US$0.67).
Acting CEO Kristin Stubbins has been turfed after seven weeks and will be replaced by the parent’s Singapore-based global clients and industries leader Kevin Burrowes.
PwC also announced it has entered into an exclusivity agreement to divest its federal and state government consultancy business to private equity firm Allegro Funds for a nominal fee of $1.
Burrowes, who is still waiting on visa approval so he can relocate and will become a partner in PwC Australia, said on Sunday he is honoured to take up the role….