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FASB Expansion Complete — FAF Announces Two New Board Members

Published on: 14 Jan 2011

With its announcement today of the appointments of R. Harold (Hal) Schroeder and Daryl E. Buck to the FASB, the Financial Accounting Foundation (FAF) has completed its expansion of the FASB from five to seven members.

Mr. Schroeder is currently serving as a partner at Carlson Capital L.P., an alternative asset management company with over $6 billion in assets under management. Before his 11-year tenure at Carlson Capital L.P., Mr. Schroeder was an audit partner at Ernst & Young and served as a CFO and senior equity analyst at other firms. Mr. Schroeder has also been a member of the FASB’s Emerging Issues Task Force.

Mr. Buck is currently serving as the CFO of Reasor’s Holding Company, a private company with $400 million in annual sales. Earlier in his career, Mr. Buck was an audit manager with Arthur Andersen & Co. He has also served as a member of the Private Company Financial Reporting Committee and is currently a member of the Blue Ribbon Panel on Standard Setting for Private Companies.

FAF Chairman John J. Brennan indicated that the FAF is “delighted to appoint Daryl and Hal to the FASB.” He added that “Daryl brings hands-on experience with the issues private companies are facing, along with great expertise garnered from his auditing background in serving the differing needs of many constituents. Hal has significant experience in all aspects of financial reporting and is driven by a strong dedication to transparency for investors. These appointments further strengthen the FASB’s expertise in areas that are vital to accomplishing its mission.”

More information is available in the FAF’s announcement on the FASB’s Web site.

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