Sayers on verge of rebranding as Tenet Advisory & Investments
Former PwC Australia CEO Luke Sayers’ eponymous consultancy is set to undergo a rebrand following its co-founder’s recent social media controversy and subsequent resignation.
Sayers will become Tenet Advisory & Investments according to updates shared by employees on LInkedIn, five years on from the consulting firm’s establishment on the heels of Sayers’ eight-year tenure as CEO of PwC.
Connected on both sides of politics, Sayers was considered somewhat untouchable despite facing plenty of heat over various allegations, but finally came unstuck when a dick-pic was shared and directed to a female business colleague over Twitter.
“The distractions of inquiries into the PwC matters over the past two years, followed by more recent and disproportionate media intrusion into my private life, have been challenging for all,” Sayers told the AFR. “It’s the right time to move forward with a new identity, as we transition from a start-up to a significant participant in the sector.”
Having already stepped down from his executive chairman duties earlier this year, Sayers noted that the advisory today had a diverse ownership of 20 partners along with sixty staff across the country, and was “much more than just one name”, with the brand change-up intended to “reposition the firm and reinforce its long-term focus.”
Fellow co-founder and CEO Sammy Kumar said; “The name ‘Tenet’ speaks to our belief in the fundamentals of growth, value-creation and momentum in the work we do across strategy, M&A and technology. We are firmly focused on the future, and strengthening the foundations of the business will ensure we are well positioned for success.”
The Australian, however, also published rumours of Kumar’s potential exit, with KPMG’s consulting boss Paul Howes floated as a possible replacement. Meanwhile, former Deloitte partner and veteran director James MacKenzie was put forward as a chair replacement, amid a broader overhaul planned for Sayers’ governance structure.
Despite being named by LinkedIn as Australia’s most attractive ‘start-up’ shortly after its founding, it hasn’t all been smooth-sailing for the firm in the years since, having suffered a number of high-level departures along the way including many of its original technology practice recruits and that of Nicole Scurrah, who went on to set up Create Advisory.
Sayers also previously resigned from his role as president of the Carlton Football Club following the female executive-tagged picture of his penis being posted to his Twitter account, which at the time he claimed to have been ‘hacked’, with a subsequent AFL investigation into the matter clearing Sayers of any personal wrongdoing.
With offices in Melbourne, Sydney and Canberra, Tenet Advisory & Investments specialises in strategy, mergers & acquisitions, and technology, working across numerous sectors. The firm also has an own family office offering, which operates under the Linara brand.
