New supervisory board holds inaugural meeting

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26 Sep 2011

The supervisory board of the Accounting Standards Committee of Germany e.V., Berlin, today at its constitutive meeting elected Dr. Ralf Thomas (Siemens AG) as chair, Mr. Frank Reuther (Freudenberg & Co. KG) as vice-chair and Prof. Dr. Norbert Winkeljohann (Price-waterhouseCoopers AG) as treasurer.

The new team will promote the reorganisation of the ASCG. "I look forward to the challenges when putting the reorganisation in place", Dr. Thomas declared when elected. "It is important that Germany speaks with a united, competent and clear voice in the international debate. This is the prerequisite for adequately providing for the interests of all listed and non-listed enterprises in our country."

At its meeting on 20 July the general assembly of ASCG approved the revised text of its constitution and elected the members of the supervisory board and the nominating committee, therewith giving the starting signal for the reorganisation. The nominating committee already released the call for applicants for members of the technical committees and the executives in mid August. In late October the supervisory board will receive the list of recommended candidates; the election is scheduled for mid November.

Once the executives – the legal representatives of the association - are elected, the revised constitution can become effective. The technical work will be pursued by the German Accounting Standards Board and the Accounting Interpretations Committee until the handover to the new technical committees can take place.

(Above text is from the ASCG news release)

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