‘Corporate doctor’ without peer had unquestionable integrity

DAVID ALEXANDER CRAWFORD AO: 1944–2024

In the early hours of Thursday, December 5, we lost a doyen of the accounting profession and the restructuring and insolvency segment of that profession in particular. We also lost an astute businessman and leader who made an enormous contribution to the many corporate and community organisations to which he committed his razor-sharp mind and clear thinking over an illustrious career of more than 50 years.

David Crawford in 2016. He was made an Officer of the Order of Australia in 2009.Credit: Wayne Taylor

David Crawford was born on January 17, 1944, in Melbourne, the son of Frank and Jean Crawford, brother to Murray, Marie and Kathleen. He was educated at Canterbury Primary School and Scotch College; at the latter he was a school prefect and house captain. David then went to Melbourne University where he boarded at Ormond College, which was to become a lifelong connection. He graduated with a degree in commerce and subsequently in law.

David married Maureen Couzens at the Littlejohn Memorial Chapel at Scotch College, Melbourne, on November 25, 1968. On many occasions he would reflect that he could not have achieved anything near that which he was able to do throughout his life without the love, stability and support Maureen brought to their marriage and lives.

After working in a small suburban practice, where he gained his first experience in managing distressed companies and insolvency administrations, David joined Peat Marwick Mitchell and Co (now KPMG) as a partner in the early 1970s. Almost immediately he was the go-to professional for large and complex corporate failures.

He initially came to prominence on the restructuring of Massey Ferguson Australia and then, more particularly, with the receivership and subsequent scheme of arrangement for International Harvester Australia Limited. This was closely followed by the insolvency of Trustees Executors and Agency Company Limited (TEA).

Then came the recession of the late 1980s to early 1990s where he was concurrently running the insolvency administrations of Adsteam, Qintex, Ariadne, Bond’s Brewing, Harlin and others.

You would expect that period would be the pinnacle of his career but there was so much more to come. He became involved in the management of KPMG Australia and contributed via various committees to KPMG International. He was the chairman of KPMG Melbourne from 1993 to 1998 and then became the inaugural chairman of KPMG Australia from 1998 to 2001, having been the driving force behind the merger of the KPMG state partnerships. The foundational structures he put in place at that time have proved critical to KPMG’s success in the subsequent decades.

During these years government and other parties continued to request him to perform important roles such as the winding up of the State Electricity Commission of Victoria as its businesses and assets were privatised.

On leaving KPMG in 2001 he became one of the most sought-after non-executive directors in the country. Already a director of BHP (subsequently BHP Billiton), over the following 20-year period he was to become the chairman of listed companies Foster’s Group Limited, Lendlease Corporation Limited, South32 Limited and National Foods Limited. He was also a director of Westpac Banking Corporation and the chairman of Australian Pacific Airports Corporation.

While for many he will be remembered as being the “corporate doctor” without peer, as one of KPMG’s finest leaders with an enduring legacy, or as a listed company chairman, there were many other roles he played in business and in the community that were just as important for those who had the pleasure of working with him.

David became well known as the person from whom to seek advice if there were issues with the structure and/or governance of national sporting organisations. He authored landmark papers and initiated structural change in relation to the AFL; soccer, which led to the formation of Football Federation Australia; Cricket Australia; and The Future of Sport in Australia.

Crawford made immense contributions to some of Australia’s biggest sports.Credit: Getty Images

On the community front, David had a long association with the Kindilan Society, now known as Focus, which is a disability services provider and home for his son James, based on the Mornington Peninsula. At various times he was a trustee of the Kindilan Foundation, and chairman of the board of Focus. He was a director of the Australian Ballet for 10 years and chairman for six of those.

His association with Scotch College continued throughout most of his life. He played Australian football for the Old Scotch Football Club (his other football guernsey was Melbourne Uni Blacks); was a member and president of the Old Scotch Collegians Association council, and subsequently served as vice chairman and then chairman of the Scotch College council.

Finally his love of sport, including the two Melbourne staples of AFL and cricket, led him to the committee of the Melbourne Cricket Club, where during his term he was at various times treasurer and vice president.

Such a career and such a contribution. It is clearly a tribute to David in terms of his intellect, work ethic and character to have been asked by so many to be involved in such important and influential ways.

For his service to business as a director of public companies, to sport, and to the community, David was awarded the Order of Australia in 2009. In 2021 he was awarded the faculty of business and economics’ Alumni of Distinction award for outstanding achievement by Melbourne University for his involvement in public company life, his focus on the review and restructure of national sporting bodies, and his contributions to arts and educational organisations.

David Crawford had immense energy and capacity. The ability to function on four to five hours’ sleep every day of his working life created some of that space. He was incredibly clear in his thinking, consistent and results-oriented. These characteristics were combined with his professionalism and unquestionable integrity.

Concurrently he had time for people, and he was a mentor and sponsor of many. David had a wry sense of humour, and humility. He was a gentleman and simply just good to be around. Many people will miss his presence. His legacy will live on, not only in terms of the huge number of individuals whose lives and careers have benefited from his guidance, but also through the strength and success of many of the institutions he so ably led and influenced.

David is survived by his loving wife of 56 years, Maureen, his children Andrew, James and Anna, and five adoring grandchildren, Wilson, Amelia, Angus, May and Gilbert.