Global Financial Strategy - IASB announces three reappointments

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IASB announces three reappointments

Tuesday 24 January 2012 – by [email protected]

Three members of the International Accounting Standards Board have been re-elected, trustees of its oversight board announced on Tuesday.

The UK’s Stephen Cooper and China’s Wei-Guo Zhang were each reappointed to serve a second five-year term at the IASB, ensuring they will remain at the standard setter until 1 August and 30 June 2017 respectively.

Paul Pacter, who had intended to serve a two-year term due to expire in June later this year, has also agreed to be reappointed for a further six months. The move will see Pacter remaining at the IASB until 31 December 2012, allowing sufficient time to scout for his replacement.

Commenting, Robert Glauber, chairman of the IFRS Foundation’s nominating committee, said: “Stephen and Wei-Guo are outstanding board members who have served the IASB well during their first terms. The trustees had no hesitation in confirming their reappointments for a second term.

“We are also grateful to Paul Pacter for agreeing to be reappointed until the search for his successor is concluded.”

The IASB is currently on the lookout for three board members, following the resignation of Elke König, who stepped down in December 2011 to become president of German regulator BaFin. John Smith is also set to step down in June 2012, having served the maximum of two five-year terms on the 15-member board, which will be expanded to make room for an extra member by July 2012.

Related articles:

Hoogervorst hints at accounting slowdown

IASB’s König leaving to head up BaFin

EBA calls for IASB ‘period of calm’

IASB: EU banks fudged Greek bond holdings

IFRS ramps up role for emerging markets

Additionally, the IFRS Foundation’s monitoring board announced that Scott Evans has been reappointed to serve a second three-year term as a trustee, meaning his term will now expire on 31 December 2014.

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