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Death of Tommaso Padoa-Schioppa, Chair of the Trustees of the IFRS Foundation

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19 Dec 2010

The Trustees and Monitoring Board of the IFRS Foundation have released condolences on the sudden death of Tommaso Padoa-Schioppa, Chair of the Trustees of the IFRS Foundation.

Tommaso Padoa-Schioppa was appointed Chair of the Trustees of the IFRS Foundation in June 2010. He was a President of Notre Europe and Chairman of Promontory Europe, Italian Minister of Economy and Finance (2006-08) and Chairman of the Ministerial Committee of the International Monetary Fund (2007-08). He served as Chairman of the Trustees of the International Accounting Standards Committee Foundation from January 2006 until he was appointed Italian Minister of Economy and Finance. He was a member of the first Executive Board of the European Central Bank (1998-2005).

Previously he was Chairman of the Commissione Nazionale per le Società e la Borsa (1997-98), Deputy Director General of the Banca d'Italia (1984-97) and Director General for Economic and Financial Affairs at the Commission of the European Communities (1979-83). He has been Joint Secretary to the Delors Committee (1988-89), Chairman of the Banking Advisory Committee of the EC (1988-91), Chairman of the Basel Committee on Banking Supervision (1993-97) and Chairman of the Committee on Payment and Settlement Systems (2000-05).

Mr Padoa-Schioppa was also the author of a number of books and articles on economic and financial matters as well as on European and international affairs. He graduated from Luigi Bocconi University and has an MSc from the Massachusetts Institute of Technology.

Joel Osnoss, Global Managing Director — IFRS Clients and Markets and Veronica Poole, Global Managing Director — IFRS Technical, said:

"We are deeply saddened by the sudden death of Tommaso Padoa-Schioppa. The tremendous effect he had on the accounting profession globally, and indeed on world finance in general, cannot be overstated. The impact of the contributions he made over the course of his career will be felt around the world for generations to come. Our thoughts are with his family, as they mourn the passing of this great man."

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