Deloitte's Aussie CEO Resigns Amid Controversy
Mr. Martino has stated he believes an investigation into his role at New Tel will show he "properly fulfilled his duties as a director." He resigned his directorship at New Tel in February 2002. New Tel went into liquidation in December, 2002.
Lynn Odland, former Chairman of the Australian Deloitte, has been appointed interim CEO while the firm looks for a permanent replacement for Mr. Martino. Since Mr. Martino's resignation from Deloitte the firm has changed its policy regarding directorships in public companies, stating that now partners and employees of the accounting firm may no longer hold such directorships.
"While holding directorships has been accepted practice in Australia for many years by legal, accounting and management consultants, Deloitte believes changing market attitudes towards corporate governance and our own commitment to best practice in governance globally, dictates a change in policy," said  Mr. Odland.