According to news, Interpath, which billionaire Sir Jim Ratcliffe has been working with on his cost-cutting initiative since he invested in Manchester United Football Club, will make the announcement that John Connolly is leaving this week.
Tamara Box, a former managing partner at the City law firm Reed Smith, will take over as chairman of the company from Mr. Connolly, who has done so since its founding in 2021.
This past weekend, insiders revealed that Mr. Connolly was resigning due to Deloitte’s upcoming appointment as Interpath’s private equity backer HIG Europe’s global auditor.
Although he still receives a pension from Deloitte, Mr. Connolly retired in 2011 as senior partner and UK chief executive.
According to one source, HIG required Deloitte to be conflict-free, and he, Interpath, and HIG had decided that his departure would prevent any potential conflicts of interest from emerging.
Given that KPMG UK’s restructuring unit was sold off to create Interpath and that tensions between the audit and consulting activities of big accountants were becoming a bigger problem, the move is not without irony.
