KPMG on Tuesday named Paul Knopp—who has been with the company for 36 years—to be its next U.S. chair and chief executive officer.
Knopp, currently a KPMG partner, has “extensive experience serving large multinational clients and leading several of the firm’s most complex global audit engagements across a variety of industries,” according to a company release.
Laura Newinski, currently KPMG’s vice chair of operations, was named deputy chair. Knopp’s and Newinski’s five-year terms begin July 1, 2020.
Knopp succeeds Lynne Doughtie, who previously decided not to seek re-election to a second term. Though Doughtie’s tenure at the company included growth in the areas of training and technology, it was marred by numerous setbacks, including a $50 million settlement with the Securities and Exchange Commission last June to resolve a long-running and notorious cheating scandal.
“Paul’s deep understanding of our business, proven track record serving clients undergoing complex change, and strong leadership skills make him the ideal choice to lead the firm,” Doughtie said in a statement.
Bill Thomas, KPMG International’s global chairman, said, “Paul and Laura will be an excellent and dynamic leadership team who throughout their careers at KPMG have been at the forefront of leading with purpose and living our values.”
Over the course of his career, Knopp “has focused on serving leading global companies in the manufacturing, life sciences, transportation, professional services, and technology industries,” according to the release. He has served on the firm’s board of directors, including serving as lead director.
Newinski, who has been with KPMG since 1988, succeeds P. Scott Ozanus, who, along with Doughtie, will retire from the firm at the end of his term.