The board of trustees of the Financial Accounting Foundation (FAF), the body that oversees the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB), has formally opened a search to fill several key leadership roles.
The open positions include chair and members of the FAF board of trustees, FAF executive director, a FASB member, and chair of the Financial Accounting Standards Advisory Council (FASAC), which advises the FASB on issues related to projects on the board’s agenda, possible new agenda items, project priorities, and procedural matters.
The FAF board of trustees’ appointments committee is seeking nominations for these positions and aims to recruit candidates from varied backgrounds and experience to ensure a balance of perspective across all the boards and Councils.
The following are brief profiles for the available positions:
Chair, Financial Accounting Foundation board of trustees
The chair of the FAF trustees plays a crucial role in preserving the integrity of the independent standard-setting process. The chair is involved in all major trustee decisions related to strategy, appointments, oversight, and governance, and in representing the organization with high-level stakeholders and regulators.
The new chair will be appointed for a three-year term beginning Jan. 1, 2026, through Dec. 31, 2028, and can stand for reappointment to a second three-year term beginning in 2029.
A full description of the FAF board chair opportunity can be found here. Persons interested in nominating themselves or others for consideration can apply by emailing a resume and/or CV to executive search firm, Spencer Stuart, at FAFChair@spencerstuart.com by Feb. 24, 2025.
At-large member, Financial Accounting Foundation board of trustees
The FAF board of trustees oversees and supports the FASB and the GASB as they carry out their collective mission. The trustees exercise general oversight of the organization, except regarding technical decisions of the FASB and the GASB in setting standards of financial accounting and reporting, which is the sole responsibility of the standard-setting boards.
The FAF is seeking to recruit several “at-large” trustees—individuals with business, investment, capital markets, accounting, and business academia, financial, government, regulatory, investor advocate, or other experience who, in the judgment of the board of trustees, can contribute to advancing the purposes of the FAF.
A full description of the FAF trustee opportunity can be found here. Persons interested in nominating themselves or others for consideration can apply by emailing a resume and/or CV to executive search firm, Spencer Stuart, at FAFChair@spencerstuart.com by Feb. 24, 2025.
Executive director, Financial Accounting Foundation
The FAF executive director leads a team of about 45 professionals who provide critical support services to the FASB and the GASB. These services include communications and public affairs, legal, IT, human resources, publishing, financial management, and administration.
The FAF executive director and staff also support the work of the FAF trustees, who are ultimately responsible for the oversight, administration, financing, and appointment of the FASB and GASB and their advisory councils.
In collaboration with the FAF chair, the executive director sets the organization’s outreach strategy to ensure the proactive, coordinated building and nurturing of relationships with a multitude of key stakeholders throughout the U.S. and internationally.
A full description of the FAF executive director opportunity can be found here. Persons interested in nominating themselves or others for consideration can apply by emailing a resume and/or CV to executive search firm, Spencer Stuart, at FAFChair@spencerstuart.com by Feb. 24, 2025.
Member, Financial Accounting Standards Board
Members of the FASB, in a collegial environment, together accomplish the objective to develop high-quality financial reporting standards that result in useful information for investors and other users of financial statements. The FASB member roles are full time and based in Norwalk, CT. These are senior and prestigious appointments, demanding not only a high degree of technical accounting expertise but also a high level of understanding of the global financial reporting environment.
The official start date for the new FASB position would be July 1, 2026; however, the newly appointed member would be expected to start some time earlier in that year to ensure a successful transition. The initial five-year term will extend through June 30, 2031, at which time the board member would be eligible to be considered for reappointment.
A full description of the FASB member opportunity can be found here. Persons interested in nominating themselves or others for consideration can apply by emailing a resume and/or CV to executive search firm, Spencer Stuart, at FAFChair@spencerstuart.com by Feb. 24, 2025.
Chair, Financial Accounting Standards Advisory Council
The chair is the principal officer of the FASAC. The chair is responsible for guiding discussion at the FASAC meetings to ensure the effective and timely communication of the comments and views of the FASAC members to the FASB and to the FASAC generally. The chair also is responsible for implementing and directing the broad operating processes of the FASAC.
The FASAC chair may be appointed for up to a four-year term, or a shorter period of time as agreed upon at the time of appointment and may be eligible for reappointment.
A full description of the FASAC chair opportunity can be found here. Persons interested in nominating themselves or others can apply for consideration by emailing a cover letter and resume and/or CV to FAF HR at FASACChairNominations@f-a-f.org by Feb. 24, 2025.
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