PwC promotes Reid Morrison and Kenny Hawsey to leadership roles
PwC has announced two promotions within its Global Energy business. Reid Morrison takes on the role of Partner and Global Energy Advisory practice leader, while Kenny Hawsey has been named Global Energy Tax practice leader. Both partners are based in the firm’s Houston, Texas, office, and are responsible for 1,500 and 1,300 professionals respectively.
Reid Morrison joined PwC in 2010, starting out as a Principal and US Energy Sector Leader. He was previously a Partner at executive search and recruitment firm Heidrick & Struggles (from 2008 onwards) and Senior Vice President at BearingPoint, where he led the firm's Global Energy & Chemicals practice. Prior to that, Morrison worked at Andersen Business Consulting as a Partner (today Accenture). Morrison was educated at Southwestern University and holds a Master of Arts in Industrial/Organisational Psychology from the University of Tulsa.
Morrison has been promoted to head of PwC’s Global Energy Advisory practice. He takes responsibility for leading more than 1,500 employees globally, focused on supporting companies ‘control costs and reduce their debt’, in line with a stabilising energy sector outlook.
Reid remarks, “With fewer new wells coming online and the significant drop in the reserve replacement ratios coupled with continual rising in demand tell me the oil industry is past the worst of the downturn. As long-term supply and demand fundamentals come into greater balance, the successful companies will likely be the ones that can replace their reserves in a low-priced environment and operate within their free cash flows instead of relying on debt and rising commodity prices.”
Kenny Hawsey started at PwC in 1993, and throughout his more than 20 year career at the firm he rose to the role of US Energy Tax Leader in 2011. Previously, from 2009, Hawsey worked as the firm’s Middle East Energy Tax Leader & Saudi Arabia Tax Leader, based in Riyadh, Saudi Arabia. From 1999 Hawsey worked as a Partner, taking on an assignment to manage the firm’s Azerbaijan, Turkmenistan & Georgia operation, before, in 2000 becoming the firm’s Middle East Energy Tax Leader. One year later he became a Tax Partner at the firm’s Birmingham, Alabama Area office. Hawsey holds a Master's degree in Accounting from Auburn University, and is a CPA.
Hawsey has been appointed as the new leader of the firm’s Global Energy Tax practice. In his new role Hawsey leads more than 1,300 professionals, focused on supporting companies deal with transfer pricing and the Base Erosion and Profit Shifting (BEPS) initiatives. Hawsey is based in the firm’s Houston office.
Hawsey says, “Oil and gas companies should proactively educate themselves with respect to the new BEPS environment, not just from a tax standpoint but also in light of the wide ranging implications for their businesses in areas ranging from asset deployment and human capital management to the development of intellectual property and public relations.”
Recent research from Alvarez & Marsal found that the low oil prices is placing growing pressure on the finances of US companies.
