‘Big Four’ accountancy firm PwC has named Fiona Kendrick as the new chair of its Public Interest Body (PIB) with effect from 1 January 2020.
Kendrick, the former chief executive and chair of Nestle UK, joined as an independent non-executive (INE) in July as part of the PIB’s succession plan. She will take over as chair from Lord Gus O’Donnell, who is stepping down after four years on the PIB at the end of December 2019.
Samantha Barrass, who joined the PIB in the Summer of 2018, will also be stepping down with effect from 30 November 2019.
The PIB, which also includes Sir Ian Gibson CBE and Justin King CBE as INEs, provides “challenge and oversight” to the firm.
Kevin Ellis, chairman and senior partner of PwC UK, said: “I’m delighted to have as experienced a leader as Kendrick as the new chair of our Public Interest Body. She brings valuable expertise and insight to this important governance role.
“We recognise the critical importance of our public interest responsibilities and know that more than ever we need to demonstrate our accountability and transparency. PwC’s Independent Non-Executives play a critical role in the firm’s governance and decision making processes.”
Kendrick added: “The PIB will continue to enhance the effectiveness of the firm’s governance arrangements with a strong focus on audit quality and embedding a culture that promotes the firm’s core values and engenders trust.
“Given the ongoing scrutiny of the audit profession and the role PwC plays in the UK economy it’s vital that we play an active role in helping to build trust and confidence in business.”