MEDIA ADVISORY 06/02/08

FASB Announces Changes in Staff Leadership

June 2, 2008, Norwalk, CT—FASB Chairman Robert Herz announced several important staff leadership changes made as part of the organization’s ongoing commitment to efficiently balance its resources with key organizational challenges ahead.

The changes were developed through extensive internal discussions with Board members, current directors and others, and take into consideration the impending departure of Linda MacDonald, Director of Planning Development and Support Activities at the FASB. Linda will be pursuing a new opportunity in the private sector in July.

Effective immediately, staffing changes include:

• Russ Golden, formerly FASB Director of Technical Application & Implementation Activities, is the Technical Director with overall responsibility for staff work on all standards-level projects, including both major projects and TA&I activities. Russ will continue to chair the EITF.  Kevin Stoklosa and Peter Proestakes will support Russ in the newly created Assistant Director roles. Danielle Zeyher will assist Russ on “people” and communication matters, in addition to her regular project manager responsibilities.

• Ron Lott, formerly a Senior Technical Advisor for the FASB, is assuming the newly created position of Research Director. He has overall responsibility for the Conceptual Framework project and for research activities, including FASB’s new Financial Accounting Standards Research Initiative.

• Sue Bielstein, formerly the FASB Director of Major Projects and Technical Activities, is the Director of Planning and Support. Her responsibilities include planning and process matters, budgets and special projects.  In her new role, Sue will help implement process changes that may result from the recommendations of the SEC Advisory Committee on Improving Financial Reporting and from enhanced oversight by the Trustees.  She also will help the continued implementation of the understandability initiative.

“These changes were thoughtfully decided after a recent internal review of our structure and will position the organization to effectively address the standard-setting challenges in the coming years,” said Robert Herz. “We also wish Linda MacDonald well in her newest challenge, and will miss her contributions as a versatile leader and top performer for our organization for many years,” Herz added.

Media Contact:

Neal E. McGarity, Director of Communications
203-956-5347
nemcgarity@f-a-f.org