20 December 2018
Sarah J. Al Suhaimi, Dr Suresh P. Kana and Kazuyuki Masu have been appointed as new Trustees of the IFRS Foundation with effect from 1 January 2019. They replace Dr Abdulrahman Al-Humaid, Joji Okada and Wiseman Nkuhlu, whose second terms as Trustees expire 31 December 2018.
The IFRS Foundation Trustees are responsible for the governance and oversight of the International Accounting Standards Board, which sets IFRS Standards.
Sarah J. Al Suhaimi is Chair of the Board of Directors of Tadawul, the Saudi Stock Exchange, and the CEO of NCB Capital, the investment banking arm of Saudi Arabia's largest Bank, the National Commercial Bank. Prior to joining NCB Capital, she was the Chief Investment Officer for Jadwa Investment and a Portfolio Manager with Samba Capital. She also served as Vice-Chair of the Advisory Committee to the Capital Market Authority in Saudi Arabia.
Dr Suresh P. Kana is the Chairman of the South-African standard-setter, the Financial Reporting Standards Council. He also chairs the King Committee on Corporate Governance in South Africa and the Audit Committee of the United Nations World Food Programme. He has broad experience as a member of different boards and committees working to improve corporate reporting and was previously the CEO and Territory Senior Partner of PwC Africa.
Kazuyuki Masu is the Executive Vice President and CFO of Mitsubishi Corporation, where he has held several roles since joining the company in 1982. He is also a Director of the Japan Investor Relations Association and a member of the Japan Business Federation's committees on taxation and finance and accounting. He has previously served as a member of the Accounting Standards Board of Japan.
The new Trustees are appointed for a three-year term. In addition to the three new appointments, Guillermo Babatz has been reappointed to serve a second three-year term, commencing 1 January 2019.