The IFAC Board has extended CEO Ian Ball’s term until February 2013. Ball became CEO in March 2002. He previously served IFAC as chair of its Public Sector Committee (now the International Public Sector Accounting Standards Board) and as a member of its nominating committee. Previously, Ball was a professor of accounting and public policy, an international consultant in public management, an accounting standard setter and a senior official in the New Zealand Treasury.
The Financial Accounting Foundation (FAF) named John J. Brennan chairman of its Board of Trustees. Brennan succeeds Robert Denham. Brennan takes the helm under a revised governance structure approved by the Board of Trustees in 2008.
The chairman’s role has been expanded to reflect additional responsibilities resulting from increasing strategic needs of the organization. The FAF is the independent, private-sector organization responsible for the oversight of FASB and GASB. Brennan is chairman of Vanguard Group Inc., and each of the Vanguard mutual funds, a position he has held since 1998.
Separately, the FAF appointed Jeffrey J. Diermeier, Cynthia P. Eisenhauer and Dennis M. Kass to five-year terms on the Board of Trustees. The appointments were made under new procedures designed to increase participation by FAF constituents in the nominating process and ensure greater independence by the FAF in appointing trustees.
Diermeier served as president and CEO of the Chartered Financial Analyst Institute until his retirement at the end of 2008. Previously, he was global chief investment officer at UBS Global Asset Management. Eisenhauer is a consultant supporting state and local governments in strategic planning and budgeting, as well as an adjunct professor at Iowa State University in its Master of Public Administration program. Previously, she served as chief of staff for then-Iowa Gov. Thomas Vilsack from 2004 to 2007.
Kass is chairman and CEO of Jennison Associates, an institutional, mutual fund and variable annuity investment management firm owned by Prudential. Previously, he was vice chairman and chief fiduciary officer at JP Morgan Fleming Asset Management, where he was responsible for the oversight of the firm’s fiduciary and client activities.