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Only three directors across Big 4 boards are independent

Tammy Whitehouse | October 9, 2018

Touting a move toward more independent leadership at the top, a KPMG board appointment spotlights just how little independence there is across Big 4 boards compared to the public companies they audit.

KPMG recently said it is bringing on Janet C. Wolfenbarger, a retired general with the U.S. Air Force, as its first independent member of KPMG’s U.S. board of directors. The firm is looking for Wolfenbarger's insights on management, leadership, and uses of technology to bring new perspectives to board conversations. The firm says it will name “additional independent directors in the coming months.”

Lynne Doughtie, chairman and CEO for KPMG in the United States, said adding Wolfenbarger, with her qualifications and independence, will ensure “a broader range of constructive viewpoints” among board...

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