FASB picks Golden boy for board post
Favourite for chairman's role steps up to the board
Robert Herz
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.
Read more:
Favourite
emerges to chair FASB