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January 28, 2023

(UPDATE) Who Wants to Be the Next FASB Chair?

~ Update includes quotes from Financial Accounting Foundation spokesperson.

FEI (via BNA Bloomberg which requires a subscription) reports that the search is on for a successor to Leslie Seidman as the head of the FASB.

The Financial Accounting Foundation (FAF), which oversees the FASB, has launched a search for a successor chair to current FASB Chairman Leslie Seidman, whose term wraps up at the end of June, 2013. The news was reported by Denise Lugo of BNA, in Executive Search Launched for Next FASB Chairman […]. According to BNA's Lugo, FAF President and CEO [Terri Polley] noted the above at a public liaison meeting between members of the FASB and the Institute of Management Accountants (IMA) on Friday.
Ms. Polley has yet to respond to my email with questions on the search (unless you count an automated "Thank you" note), but while we wait there are few things that we can discuss amongst ourselves. 
  • Who among you is up to the challenge of this job?
  • If you don't have the stones for this, who does?
  • What qualifications and characteristics should the next FASB Chair possess? A mastery of debit and credits? Political savvy? Someone who is impervious to hate mail? Someone who will challenge Hans Hoogervorst to a mud-wrestling match to decide critical accounting issues?

We have less than a year to get someone to take the most thankless job in the accounting universe. Let's get on this.

UPDATE: A FAF spokesperson confirmed to us that the search is on and that, "we hope to have a final candidate by early 2013." They wouldn't go into details as to what they're looking for in a new Chair but did say that (s)he "will need to have broad experience with many FASB constituencies." Does that sound like you? Apply today!



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