Tommaso Padoa-Schioppa to return as Chairman of the Trustees following the July Trustees' meeting

18 June 2010

The Monitoring Board today announced that it has approved the appointment of Tommaso Padoa-Schioppa, former Italian Minister of Economy and Finance, as Chairman of the Trustees. He will take over from Gerrit Zalm, who currently serves as Chairman and whose term was expiring this year, after the Trustees' meeting on 7 and 8 July.

Mr Padoa-Schioppa briefly served as Chairman of the Trustees from January 2006 to May 2006, when he was asked to become Minister of Economy and Finance.

Commenting on his appointment, Mr Padoa-Schioppa said:

“I am honoured to be asked to return as Chairman of the IASC Foundation Trustees. The G20 and others have recognised the importance of achieving a single set of high quality accounting standards, applied consistently throughout the world’s capital markets. I look forward to working closely with the Monitoring Board, my fellow Trustees and the Foundation’s stakeholders around the world in order to achieve this important objective. I would also like to thank Gerrit Zalm for his strong and determined leadership of the IASC Foundation throughout his two-and-a-half years as Chairman.”

The Monitoring Board announcement can be found by clicking here.