FINANCIAL ACCOUNTING FOUNDATION BOARD OF TRUSTEES REAPPOINTS DARYL E. BUCK
AND R. HAROLD SCHROEDER TO FASB
Norwalk, CT—May 20,
2015—The Board of Trustees of the Financial Accounting Foundation (FAF)
today reappointed Daryl E. Buck and R. Harold (Hal) Schroeder to the Financial Accounting
Standards Board (FASB). Their new terms are effective July 1, 2015 and end on
June 30, 2021.
The FAF is the independent, private-sector organization
responsible for the oversight of the FASB and the Governmental Accounting
Standards Board (GASB).
“Daryl and Hal each have brought their own
valuable experiences and perspectives to the Board’s deliberation of critical
financial reporting issues—Daryl as the former chief financial officer of a
privately held company, and Hal as a former investor,” said FAF Chairman Jeffrey
J. Diermeier. “On behalf of the Trustees, I am pleased that they will continue
to contribute their valued expertise to the FASB’s mission of establishing and
improving financial accounting and reporting standards.”
Prior to joining
the Board in 2011, Mr. Buck spent 18 years as senior vice president & chief
financial officer of Reasor’s Holding Company, a privately owned retail grocery
company.
Mr. Schroeder also joined the Board in 2011. Mr. Schroeder
brings more than 30 years of experience in investing and financial reporting to
the FASB. Previously, he was a partner at a money manager, Carlson Capital, L.P.
Mr. Buck, a CPA, graduated summa cum laude with a bachelor of science
degree in accounting from Southeastern Oklahoma State University in Durant,
Oklahoma.
Mr. Schroeder earned his master’s degree in business
administration from Tulane University and a bachelor of science degree in
accounting from the University of New Orleans. He also is a CPA.
Mr. Buck
and Mr. Schroeder originally were appointed to the FASB in February 2011, when
the size of the Board was increased from five to seven members. The Trustees
today amended the FAF By-Laws to permit Mr. Buck and Mr. Schroeder—and any
future member of the FASB or GASB who is appointed to an initial term of less
than five years—to serve a full ten years.
About the
Financial Accounting Foundation
Established in 1972, the
Financial Accounting Foundation (FAF) is the independent, private-sector,
not-for-profit organization based in Norwalk, Connecticut responsible for the
oversight, administration, financing, and appointment of the Financial
Accounting Standards Board (FASB) and the Governmental Accounting Standards
Board (GASB). The FASB and GASB establish and improve financial accounting and
reporting standards – known as Generally Accepted Accounting Principles, or GAAP
– for public and private companies, not-for-profit organizations, and state and
local governments in the United States. For more information, visit http://www.accountingfoundation.org/.
About
the Financial Accounting Standards Board
Established in 1973,
the FASB is the independent, private-sector, not-for-profit organization based
in Norwalk, Connecticut, that establishes financial accounting and reporting
standards for public and private companies and not-for-profit organizations that
follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized
by the Securities and Exchange Commission as the designated accounting standard
setter for public companies. FASB standards are recognized as authoritative by
many other organizations, including state Boards of Accountancy and the American
Institute of CPAs (AICPA). The FASB develops and issues financial accounting
standards through a transparent and inclusive process intended to promote
financial reporting that provides useful information to investors and others who
use financial reports. The Financial Accounting Foundation (FAF) supports and
oversees the FASB. For more information, visit http://www.fasb.org/.