KPMG expands commitment to international growth; Madonna to become first full-time global...

NEW YORK--(BUSINESS WIRE)--April 9, 1996--Jon C. Madonna, who currently serves both as international and U.S. chairman and CEO of KPMG, the international accounting and consulting firm, said today that he will focus his full-time efforts on driving the global expansion of the firm and will not seek

"Positioning the firm to take advantage of tremendous global business opportunities requires full-time leadership. In the last several months we've launched a number of initiatives to globalize our products and services and this is the appropriate time in our internal process for me to inform my partners that I will solely focus on my global position as KPMG chairman when my current term as head of the U.S. operation concludes in October," said Madonna.

Elected to the global chairmanship in October, 1995, Madonna added that KPMG "needs to build a global delivery system with consistent standards and products around the world to better serve our clients."

During his stewardship of the U.S. organization, Madonna is credited with increasing firm revenue and profits to record levels. He also broke with a traditional Big Six structure to build the first national, industry-focused client service model in the profession. But his major legacy is transforming the mindset of the firm from a chiefly compliance-driven to an advisory and consulting driven organization. "We need to replicate the success of the transformation of the U.S. firm on a global basis and this will be one of my chief international priorities," Madonna said. His partner in the transformation, Deputy Chairman James G. Brocksmith, Jr., also announced that he will not seek reelection. KPMG Peat Marwick LLP is the U.S. practice of KPMG, The Global Leader among professional service firms. Worldwide, KPMG has more than 6,000 partners as well as 76,000 employees in 1,100 offices in 837 cities in 134 countries. In the U.S., KPMG partners and professionals deliver a wide range of value-added consulting, assurance and tax services in five markets: financial services; manufacturing, retailing and distribution; health care and life sciences; information, communications and entertainment; and public services.

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