The SEC named several new members to the Financial Accounting Foundation Board ("FAF") of Trustees and Financial Accounting Standards Board ("FASB").

The SEC appointed to the FAF:

  • Kathleen Casey as the Chair, who since 2018 was an FAF Trustee and previously acted as a board director, audit committee member and SEC Commissioner; and
  • Bruce Herring, Micahel Rollings, Timothy Ryan, Lawrence Salva, and Shundrawn Thomas as Board of Trustees members.

The SEC added that FAF Chair of the Board of Trustees Chuck Noski will end his tenure at the end of the December, 2019. Mr. Noski has been the Chair of the Board of Trustees since January 2016.

Separately, the SEC named Richard Jones as the next Chair of the FASB and will begin his term July 1, 2020. Most recently, Mr. Jones was the Chief Accountant and a Partner at Ernst & Young, LLP. Preceding Mr. Jones is Russ Golden, who will finish his term as FASB Chair on June 30, 2020.