Statement on the passing away of Harry Schmid, Member of the IASB (2001-2004)

 01 June 2015

It is with great sadness that we note the recent passing away of Harry Schmid.  Mr Schmid served as a Member of the International Accounting Standards Board (IASB) from its establishment in 2001, until he stepped down in 2004.  He was also a representative of the Federation of Swiss Industrial Holding Companies on the Board of the International Accounting Standards Committee (IASC) from 1995 until its replacement by the IASB in 2001.

Mr Schmid was a successful and highly regarded accounting practitioner and a strong supporter of global accounting standards.  His more than 40 years of experience in various senior roles at Nestlé saw him overseeing the company’s financial statements in Europe and Latin America, providing an important bridge to the corporate community in both Europe and Latin America.

Michel Prada, Chairman of the IFRS Foundation Trustees said:

Harry Schmid played an important role in the early days of the IASB and adoption of IFRS by Europe and others. Harry will be deeply missed by friends and past colleagues in the standard-setting community.  We send our heart-felt condolences to his family.