SANTA CLARA, Calif., April 23, 2014 (GLOBE NEWSWIRE) -- KPMG LLP, the audit, tax and advisory firm, has appointed Silicon Valley-based Audit Partner Packy Kelly as the leader of the firm's Global Semiconductor Industry practice.
Kelly has over 23 years of experience providing auditing and accounting services, including as lead audit partner for a significant number of semiconductor companies. In his new role, Kelly will be responsible for setting the strategic priorities and growth agenda for KPMG's Semiconductor Industry practice, which also produces an annual global semiconductor industry survey and report. He will drive strategy and client services, broaden KPMG relationships with senior semiconductor executives, and continue to serve as the lead partner on a number of client engagements.
Kelly concurs with the widely-accepted view that the semiconductor industry expansion cycle will continue this year. He believes new and emerging technologies will become more important this year and in coming years.
"As traditional sources of market demand for the industry, such as personal computers, continue to mature, advances in new age consumer electronics and the 'internet of things' are expected to become more important growth drivers," says Kelly. "One example is the nascent wearable technology market, which includes fitness monitoring, smart watches and eyeglasses. Some researchers predict that sales could exceed 300 million units by 2018."
He adds that "these new innovations will help offset the next phase of smart phone penetration favoring lower cost models, particularly in emerging markets. Mobility continues to be a growth engine for the industry, but lower cost smart phones are slowing top-line growth."
Kelly succeeds former KPMG partner Ron Steger, who retired. He previously was the co-leader of KPMG's national Venture Capital practice. San Francisco-based Audit Partner Conor Moore has been appointed the new co-leader of the firm's national venture capital practice.
Kelly holds an undergraduate degree in accounting from Fairfield University and earned MBAs from Columbia University and UC Berkeley.
About KPMG LLP
KPMG LLP, the audit, tax and advisory firm (www.kpmg.com/us), is the U.S. member firm of KPMG International Cooperative ("KPMG International"). KPMG International's member firms have 155,000 professionals, including more than 8,600 partners, in 155 countries.