The Board of Trustees of the Financial Accounting Foundation (FAF) last week announced that Financial Accounting Standards Board (FASB) member Daryl Buck will retire from FASB, effective December 31, 2016.

Buck was appointed to FASB in February 2011 and is currently serving in his second term. Prior to joining FASB, Buck spent 18 years as senior vice president and chief financial officer of Reasor’s Holding Company, a privately owned retail grocery company. Previously, he served as an audit manager in the Houston and Oklahoma City offices of Arthur Andersen.

The FAF Board of Trustees is preparing to initiate a search for Buck’s successor.