FINANCIAL ACCOUNTING FOUNDATION NAMES SUSAN J. CARTER, ANTHONY J. DOWD, AND T. ELOISE FOSTER AS NEW TRUSTEES
Norwalk, CT—December 22, 2016—The Board of Trustees of the Financial Accounting Foundation (FAF)
today announced that it has appointed Susan J. Carter, Anthony J. Dowd,
and T. Eloise Foster to the FAF Board of Trustees, effective January 1,
2017.
The FAF is the parent organization of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).
"The FAF Board of Trustees is pleased to welcome Susan, Tony, and Eloise
as its newest members," said FAF Chairman Charles H. Noski. "Their
diverse experience and expertise will contribute significantly to the
Trustees' ongoing oversight and support of the standard-setting process
that serves all stakeholders of the FASB and the GASB."
The new appointments will fill upcoming vacancies on the Board of
Trustees. Trustees whose terms conclude on December 31, 2016 are Vice
Chair W. Daniel Ebersole, Paul G. Camell, and Michelle R. Seitz. The FAF Trustees also appointed Gary H. Bruebaker as vice chair, effective January 1, 2017.
"On behalf of the FAF, I want to thank our departing Trustees—Dan, Paul,
and Michelle—for their years of leadership and service," said FAF
President and CEO Teresa S. Polley. "They have provided valuable
oversight of the FASB and GASB, while successfully promoting and
protecting the independence of the Boards."
Below are brief biographical sketches of the new Trustees:
Susan J. Carter is a member of the BlackRock
Equity/Liquidity mutual fund board and the board of the Pacific Pension
and Investment Institute. She is also a member of the advisory boards of
Bridges Ventures U.S., Girls Who Invest, and the Tuck Center for
Private Equity and Entrepreneurship. Prior to serving on boards, for 25
years Ms. Carter held roles of increasing scope at Commonfund Capital,
Inc., a global private capital investment firm, including President and
CEO. Before Commonfund Capital, Ms. Carter worked at Morgan Stanley and
General Electric Company.
Anthony J. Dowd is a director and treasurer of The
Volcker Alliance, and formerly worked as chief of staff and special
assistant under Paul A. Volcker when he was Chairman of the President's
Economic Recovery Advisory Board. He also sits on the board of directors
of Metal Powder Products Company and Future Pipe Industries, Ltd., a
global pipe manufacturing company based in Dubai. He previously served
on the boards of Hostess Brands, Inc. and most of the portfolio
companies of Charter Oak Partners. Earlier in his career, he worked as a
senior advisor for Linx Partners LLC and served as a Managing General
Partner of Charter Oak Capital, a private equity fund. Mr. Dowd began
his career as an officer in the United States Army in the First Cavalry
Division.
T. Eloise Foster is chair of Maryland Supplemental
Retirement Plans, a commissioner with the Washington Suburban Sanitary
Commission (WSSC), and a member of the WSSC Retirement Plan Board of
Trustees. Ms. Foster previously served as secretary of the Maryland
Department of Budget and Management, where she was responsible for
developing and managing Maryland's operating and capital budgets,
personnel system, and employee and retiree benefits program. Previously,
she worked as Assistant Dean for Business Affairs and Program
Development at the University of Maryland School of Medicine. Earlier in
her career Ms. Foster was a legislative officer for Governor William
Donald Schaefer and a fiscal analyst for the Maryland General Assembly.
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 www.accountingfoundation.org.