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20 Sep 2010
Russell Golden, the man touted as a favourite to take over chairman of the US accounting standard setter, has been made a board member, but there remains no word on whether he will get the top job.
The chairman’s post at the Financial Accounting Standards Board was vacated by Robert Herz at the beginning of this month, two years ahead of when he was due to retire.
There has been much speculation about his replacement because it is being viewed as an indicator of which way the US might go on adopting international accounting standards. The US has given itself a deadline of next year to decide on what it will do.
Golden emerged as a front runner for the chairmanship last month. He is already technical director at FASB but the new appointment will elevate him to a new seven-member board.The board is being expanded from a five-member structure.
The trustees overseeing appointments is still to decide on a chairman. Current board member Leslie Seidman will take over as acting chairman from October.
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