FINANCIAL ACCOUNTING FOUNDATION NAMES KATHLEEN L. CASEY, JEFFREY L. ESSER,
AND DAVID C. VILLA AS NEW TRUSTEES
Norwalk, CT—November 14,
2017—The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the
appointment of Kathleen L. Casey, Jeffrey L. Esser, and David C. Villa to the
FAF Board of Trustees, effective January 1, 2018.
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 Kathleen, Jeffrey, and David as its newest
members,” said FAF Chairman Charles H. Noski. “Their diverse experience and
expertise will help the Trustees direct the effective, efficient, and
appropriate stewardship of the FASB and GASB in carrying out their
missions.”
The new appointments will fill upcoming vacancies on the Board
of Trustees. Trustees whose terms conclude on December 31, 2017, are Secretary
and Treasurer Ann
Marie Petach, Charles
S. Cox, and John
C. Dugan.
“On behalf of the FAF, I want to thank Ann Marie, Charles,
and John for their years of leadership, service, and their valuable oversight of
the FASB and GASB’s standard-setting process,” said FAF President and CEO Teresa
S. Polley.
Below are brief biographical sketches of the new
Trustees:
Kathleen L. Casey is a senior advisor
with Patomak Global Partners LLC and previously served as a U.S. Securities and
Exchange Commission (SEC) commissioner. She also sits on the board of directors
of HSBC Holdings plc, and serves as chairman of the Board of Penn State Health.
Ms. Casey also serves on the Library of Congress Trust Fund Board, the
International Valuation Standards Council, and the Pennsylvania State University
Board of Trustees. She began her career working for the U.S. Senate, including
serving as staff director and counsel to the U.S. Senate Banking, Housing, and
Urban Affairs Committee.
Jeffrey L. Esser is the executive
director emeritus of the Government Finance Officers Association (GFOA). He
recently retired from the GFOA after serving more than 35 years as chief
executive officer. Mr. Esser also sits on the boards of directors of the Center
for State and Local Government Excellence and is chair of the Endowment Board of
the Bernard Zell Day School in Chicago. He is also a volunteer consultant with
the Executive Service Corps of Chicago and provides strategic and financial
advice to not-for-profit organizations. Before joining GFOA in 1979 as the
director of its Federal Liaison Center, Mr. Esser served as the staff director
of government operations and director of the criminal justice and consumer
affairs project for the National Conference of State Legislatures.
David C. Villa is the chief investment
officer for the State of Wisconsin Investment Board. He also sits on the boards
of directors of the Marguerite Casey Foundation and the Madison College
Foundation. With more than 35 years of experience in the financial services
profession, Mr. Villa previously served as chief investment officer for the
Florida State Board of Administration, and also worked for UBS Global Asset
Management/Brinson Partners in Chicago as an executive director and client
relationship manager. Mr. Villa began his career with First Chicago and Arthur
Andersen.
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/.