30 October 2014
The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board (IASB), today announced that the Monitoring Board has approved the appointment of Dr Takafumi Sato as a Trustee of the IFRS Foundation.
Dr Takafumi Sato is President of Japan Exchange Regulation, the self-regulatory body for the world´s third largest stock exchange. Dr Sato served as Commissioner of the Financial Services Agency from 2007 to 2009. During his tenure, Dr Sato directed the agency in drawing its roadmap towards the application of IFRS in Japan, which included allowing domestic corporations to voluntarily apply IFRS. Dr Sato also served as a founding member of the IFRS Foundation Monitoring Board.
The appointment of Dr Sato will commence on 01 November 2014. His term will expire on 31 December 2017 and is renewable once for a further three-year term. Dr Sato´s appointment follows the retirement of Tsuguoki (Aki) Fujinuma, Vice-Chairman of the Trustees.
Commenting on the appointments, Robert Glauber, Chairman of the Trustees´ Nominating Committee, said:
"On behalf of the Trustees I welcome Dr Sato, a highly respected individual who has made many important contributions to global financial reporting during his career. I am confident that Dr Sato´s vast experience and expertise will prove to be of great value to the Trustees.
I also wish to thank Aki Fujinuma for his extraordinary contribution to the IFRS Foundation in the years since his appointment to serve as a Trustee."
Chris Welsh, Communications Manager, IFRS Foundation
Telephone: +44 (0)20 7246 6495