Australian bank Westpac announced that non-executive director Peter Nash would leave its board, citing his relationship with troubled auditor KPMG. Nash was a senior partner at KPMG until 2017 and served as its national chairman in Australia.

KPMG Scandal

KPMG is embroiled in a scandal over whistleblower allegations it shared confidential company information with prospective private-sector clients to bid for auditing work. Westpac Chairman Steven Gregg stated that Nash decided to retire from the board to limit any ongoing distraction for the company.

Nash was reelected to the Westpac board in December last year, but about 40% of investors voted against him due to his past roles and relationships at KPMG. Local media reported that in 2023, Nash sat in on pitch meetings of auditing firms looking to secure the bank’s contract. Westpac switched to KPMG from PwC.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.