In a statement to the Australian Securities Exchange (ASX), the group said both Mr Lombard and the company reached a point “where it is more appropriate for a new CEO to lead the company through its next stage of development”.
Current group chief financial officer Chris Price will take over as acting CEO of Crowe Horwath Australasia, formerly WHK Group, while the board conducts a global search for a replacement.
“Mr Lombard has led the company over the last two years and has played an important role in resetting the foundations of our business for the future during a time of challenging markets,” said group chairman Richard Grellman.
“Mr Lombard oversaw significant restructuring, including the implementation of a number of cost reduction and efficiency initiatives, and a group rebranding exercise. The board would like to thank him for his contribution.”
Crowe Horwath Australasia recently released its annual financial results, blaming poor business confidence for reduced profit.
At the time, it pointed to a number of “transformation projects” in 2013 that were initiated over the last two years.
“These include a restructured and aligned leadership team, new remuneration model for principals, business efficiency project, group shared services environment and a successful move to one brand during July 2013,” said Mr Lombard at the time.
