KPMG boss Bill Michael resigns after telling staff to 'stop moaning'

Chairman says position had become untenable after comments leaked

KPMG UK boss Bill Michael resigned after making offensive remarks during a staff meeting. Reuters

The UK boss of KPMG resigned after he told staff to "stop moaning" in a meeting.

Bill Michael, who had stepped aside pending an internal investigation, confirmed on Friday he had left his position after it became untenable.

"I love the firm and I am truly sorry that my words have caused hurt among my colleagues and for the impact the events of this week have had on them. In light of that, I regard my position as untenable and so I have decided to leave the firm," he said.

Mr Michael, who was admitted to hospital with Covid-19 last year, reportedly told about 500 financial services employees on Monday that they should “stop moaning” about the pandemic and stop “playing the victim card”.

A video of the comments was obtained and published online, showing that Mr Michael also described the concept of unconscious bias as being "complete and utter crap for years".

KPMG said Bina Mehta, senior elected board member, and Mary O'Connor, head of clients and markets, had taken over Mr Michael's responsibilities on an acting basis.

The company said that a leadership election for a permanent replacement would be held "in due course".

Mr Michael's remarks provoked fury from KPMG staff who reportedly took to an app used to post anonymous comments in the meeting.

One employee said Mr Michael should “check his privilege” and “do your research” before commenting on the issue.

Staff were allegedly angry that he had dismissed concerns about potential cuts to staff bonuses, pay and pensions.

Other participants took issue with Mr Michael talking about meeting clients for coffee during lockdowns.

“He literally said, ‘I know I’m breaking the law’ to meet up with people during the pandemic,” one said.