New Chairman of IASB appointed

The International Accounting Standards Board (‘IASB’) has announced the appointment of Hans Hoogervorst as chairman and Ian Mackintosh as vice-chairman of the IASB.

Keywords: IASB, IFRS, Hans Hoogervorst, Sir David Tweedie

Mr Hoogervorst will succeed Sir David Tweedie on his retirement as chairman of the IASB at the end of June 2011. Under the 10-year leadership of Sir David Tweedie, the IASB has succeeded in establishing International Financial Reporting Standards (IFRSs) as the accepted set of financial reporting standards in more than 100 countries.

Sir David Tweedie, current chairman of the IASB said, “I am delighted that the Trustees have chosen Hans, supported by Ian, to lead the IASB. I got to know Hans when he co-led the Financial Crisis Advisory Group and I have worked with Ian for many years. Their skill sets are entirely complementary. This is an excellent outcome.”

Hans Hoogervorst, chairman-elect of the IASB said, “As a securities and market regulator I have investor protection in my DNA. I strongly believe that a global set of accounting standards, set for investors by an independent standard-setter, is an essential component for the world’s financial markets. These will remain my priorities. The IFRS story is a remarkable one. I relish the opportunity to build on the great work of Sir David Tweedie and to lead the organisation into a second decade of success.”