PwC Australia announces third independent non-executive to join its Governance Board

Monday, 26 August 2024

• Carmel Mulhern named as third independent non-executive member of PwC Australia’s Governance Board

• Follows appointment of John M. Green as independent non-executive Chair - a first for an Australian Big 4 professional services firm - and Lisa Chung AM as an independent non-executive Board Member

• Marks a further step, as firm continues to make progress against its Commitments to Change Action Plan 

PwC Australia has today announced Carmel Mulhern will be joining its Governance Board as the firm’s third independent non-executive member. 

Ms Mulhern’s appointment marks a further step along the firm’s Commitment to Change Action Plan, and follows the appointment of John M. Green and Lisa Chung as independent Board Chair and member, respectively. Three of the firm’s 10 person Governance Board members are now independent non-executives. 

This addition follows the implementation of an industry-leading governance reform package, which strengthened the Board’s independence, oversight powers and duties, setting a new standard for professional services firms in Australia. 

Ms Mulhern will bring significant experience from her career as a global executive and senior advisor to Boards and CEOs in the financial services, telecommunications, media and technology sectors. She held leadership roles at ASX10 entities, including the Commonwealth Bank of Australia (CBA) and Telstra. Until 2023, she was Group General Counsel and Group Executive Legal & Corporate Secretariat at CBA, where she was responsible for ensuring the fair and efficient resolution of the Bank's legal matters and supporting the effectiveness of the Board. 

Chair of PwC Australia’s Governance Board, John M. Green said: “We're extremely pleased to have someone of Carmel's calibre join the Governance Board. Her experience working with some of Australia's biggest and most highly-regulated businesses will serve us well as we move into the next stage of delivering on our Commitments to Change.”

“We expect Carmel's executive and legal background to add another layer of enhanced governance to our firm, facilitating robust challenge and oversight to drive positive outcomes.” 

Ms Mulhern’s non-executive director experience and advisory board positions include in the areas of superannuation, medical research, education as well as AI and digital ethics. 

Ms Mulhern said, “I'm delighted to be joining PwC's Governance Board and excited to have the opportunity to contribute my insights and help oversee the firm's continued transformation. I look forward to working with my fellow board members and the broader PwC Australia team to achieve positive change for the people who work with, and at, the firm."

Ms Mulhern will commence in the role on September 1. 

Since releasing its Action Plan in September 2023, PwC Australia has made significant progress on the 47 listed actions. As of today, 36 actions have been addressed and are being independently reviewed. The remaining 11 actions have staggered timelines and are progressing.

Together, these actions strengthen the firm’s governance, accountability and culture. They also underpin the firm’s three-year strategy, which places our people, clients and culture at the heart of everything we do.