Deloitte appoints new CEO deloitte.com.au
20 January 2003
Big four global professional services firm, Deloitte Touche Tohmatsu, announced today it had appointed Mr Lynn Odland as CEO following the resignation of Mr Domenic Martino.
Mr Odland CEO of Deloitte from 1997 - 2001 and the Chairman of the Australian firm since May 2001, has stepped down as Chair to take on the executive leadership position which he is expected to hold for the next 6 months while the firm conducts a search for a new CEO.
The Deputy Chairman, partner Harley McHutchison, has been appointed Chairman by the Deloitte board.
Mr Martino will take leave to consider his future. He cited as reasons for his decision to resign - the ongoing publicity associated with his past directorship of New Tel and his belief that it was good corporate governance and in the best interests of Deloitte and its people for him to step aside while New Tel's affairs were investigated during liquidation…a process that could take many years.
Mr Martino believes firmly that any future investigation of New Tel will demonstrate that he properly fulfilled his duties as a Director until he resigned in February 2002, 11months before New Tel went into liquidation.
Mr Odland who is also a member of Deloitte's Global Board and who sits on Deloitte's World Governance Committee also announced that the Australian firm would no longer allow its partners and employees to hold directorships in public companies and with limited exceptions in proprietary companies.
"While holding directorships has been an accepted practice in Australia for many years by legal, accounting and management consultants, Deloitte believes changing market attitudes towards corporate governance and our own commitment to best practice in governance globally, dictates a change in policy."
Lynn Odland, CEO
Deloitte Touche Tohmatsu, Australia
Lynn Odland was appointed Chairman of Deloitte in August 2001 after having served as CEO, Australia, from October 1997. He was responsible for growing Deloitte Australia's operations and directing the firm's services into international markets including the burgeoning Asia-Pacific region. Lynn led a 'cultural change' process for Deloitte - the introduction of Signals. The fact that he has been Chairman since 2001 means that he has kept his finger on the pulse of the firm and no momentum will be lost as he assumes the role again as CEO.
During Lynn's four-year term as CEO, Deloitte grew at an average of 25% annually and our profits increased 250% during this same four year period.
Lynn is currently a member of Deloitte's Global Board and sits on Deloitte's World Governance Committee.
Prior to taking up the CEO position, Lynn was the Western Region Managing Partner of Deloitte & Touche LLP in the United States. Based in San Francisco, he was responsible for client relationships and operations over a vast area of the United States including California, Oregon, Washington, Hawaii, Alaska, Idaho and Nevada. He was also a member of the US firm's Management Committee.
Harley McHutchison, Chairman
Deloitte Touche Tohmatsu, Australia
Harley has been with Deloitte for most of his working life - mainly in Sydney, but with four years on secondment in London and San Francisco. He has been an Assurance and Advisory Partner for more than 20 years.
Harley is the Lead Client Service Partner for CSR, AGL and Centennial Coal and has served many other public companies in Australia. He has regularly been retained to provide expert testimony on a range of auditing, accounting and other matters.
Harley has been a member of the Australian firm's Board of Partners since October 2000 and Deputy Chairman since August 2001. Through his role with major public companies, Harley is well versed in the issues facing Boards of Directors, particularly with regard to Corporate Governance and Independence Issues.
For further information:
Lynn Odland
Chief Executive Officer
Tel: +61 2 9322 7070
lodland@deloitte.com.au
Vessa Playfair
Director of Communications
Tel: +61 2 9322 7576
vplayfair@deloitte.com.au |
