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:

“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