PwC grows governance board with new independent non-executive member
The big four company has announced the appointment of a third independent non-executive member to its governance board, Carmel Mulhern.
PwC has appointed Carmel Mulhern as the company’s third independent non-executive member to its governance board to strengthen the position and operations of the body.
The appointment of Mulhern follows the appointment of John M Green and Lisa Chung to the board as independent board chair and member.
Mulhern is the third person to be appointed as an independent non-executive out of the 10 board members.
Mulhern said she is thrilled to be joining PwC, commencing on 1 September 2024.
“I’m delighted to be joining PwC’s governance board and excited to have the opportunity to contribute my insights and help oversee the firm’s continued transformation,” she said.
“I look forward to working with my fellow board members and the broader PwC Australia team to achieve positive change for the people who work with and at the firm.”
PwC said the new addition is a further step along in the company’s Commitment to Change action plan.
“This addition follows the implementation of an industry-leading governance reform package, which strengthened the board’s independence, oversight powers and duties, setting a new standard for professional services firms in Australia,” the company said.
Mulhern will bring significant experience from her career as a global executive and senior advisory to boards and CEOs, according to PwC.
She has extensive experience and knowledge in financial services, telecommunications, media and technology.
Previously, Mulhern has held leadership roles at ASX10 entities, including the Commonwealth Bank of Australia (CBA) and Telstra.
At CBA, Mulhern was the group general counsel and group executive legal and corporate secretariat until 2023.
In these roles, Mulhern was responsible for ensuring the fair and efficient resolution of CBA’s legal matters and supporting the effectiveness of the board.
PwC Australia governance board chair John M Green said the appointment of Mulhern will significantly benefit the board.
“We’re extremely pleased to have someone of Carmel’s calibre join the governance board,” he said.
“Her experience working with some of Australia’s biggest and most highly regulated businesses will serve us well as we move in the next stage of delivering on our commitments to change.
“We expect Carmel’s executive and legal background to add another level of enhanced governance to our firm, facilitating robust challenge and oversight to drive positive outcomes.”
Since the release of the action plan in September 2023, the company said it has made “significant progress” on the 47 listed actions, with 36 having been addressed.
The remaining 11 actions are set to be reviewed with staggered timelines.
PwC said addressing the action plan is at the forefront of the company’s priorities.
“Together, these actions strengthen the firm’s governance, accountability and culture,” PwC said.
“They also underpin the firm’s three-year strategy, which places our people, clients and culture at the heart of everything we do.”
