PwC Australia announces first independent Governance Board Chair and board member

Thursday, 1 August 2024

PwC Australia announces first independent Governance Board Chair and board member

• John M. Green named as independent non-executive Chair of PwC Australia’s Governance Board - a first for an Australian Big 4 professional services firm 
• Lisa Chung AM to join the Governance Board on 1 September 2024 as an independent non-executive Board member
• Webb Henderson appointed as Independent Monitor to verify firm’s progress against its Commitments to Change Action Plan

In a first for an Australian Big 4 professional services firm, PwC Australia has today announced John M. Green will be joining its Governance Board as the firm’s independent non-executive Chair. 

In addition, Lisa Chung AM will join the Governance Board as an independent non-executive Board member on 1 September 2024, marking a significant next step in the actions the firm is taking to deliver on its Commitments to Change. This follows the implementation of milestone reforms which strengthened the Board’s independence, oversight powers and duties, setting a new standard for professional services firms in Australia. 

As the firm’s first independent Chair, Mr Green will bring significant director experience across a range of domestic and international organisations. Having served on multiple boards, across a multitude of industry sectors, and having advised many boards during his executive career, he will draw from his decades of business experience to strengthen the independence and oversight powers of PwC Australia’s Governance Board. He is currently a director of Challenger Limited and Cyber Security Cooperative Research Centre and he chairs UOW Global Enterprises and Pantera Press, an independent book publisher. 

Incumbent Chair of PwC Australia’s Governance Board, Justin Carroll said: “John is an exceptional addition to our Governance Board and will make an outstanding Chair. He will be able to draw from his decades of experience to bring an outside-in perspective, hold management to account and deliver a new level of oversight.”

Lisa’s non-executive director experience includes board positions across a variety of industries including commercial property, financial services, creative arts and community services. She is currently the Chair of Australian Unity Limited, and on the boards of AVJennings Limited, the Committee for Sydney, the Foundation of the Art Gallery of NSW, The Front Project, the Sydney Community Foundation and Artspace.

“Together, John and Lisa bring enhanced levels of independent thought and governance experience to our Governance Board, facilitating more robust challenge and oversight of our firm,” Mr Carroll said. 

“Their contributions should mean decisions impacting the future of the firm are scrutinised with more independent eyes, holding management to a similar level of accountability as top tier ASX-listed companies,” he said.  

The process to appoint a third non-executive to the firm’s Governance Board is well progressed. 

As part of these announcements, incumbent Chair Justin Carroll will step down from the Governance Board in August. 

PwC has also announced the appointment of boutique independent law firm Webb Henderson as its Independent Monitor to verify progress made on its Action Plan. The Webb Henderson team of senior lawyers will be supported by The Honourable Tom Bathurst AC KC, former Chief Justice of the Supreme Court of NSW. They will begin reviewing PwC Australia’s progress immediately. 

Since releasing its Action Plan in September 2023, PwC Australia has made significant progress on the 47 listed actions. As of today, 35 actions have been addressed and are being prepared for independent verification. The remaining 12 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 all it does. 

PwC Australia CEO, Kevin Burrowes, said: “While we still have a lot to do, these are significant and meaningful steps which will ensure we are bringing the best of our multidisciplinary model to our clients and creating a working environment for our people to thrive in.”