The Board of Trustees of the Financial Accounting Foundation (FAF) this week reappointed Daryl Buck and R. Harold Schroeder to the Financial Accounting Standards Board (FASB). Their new terms are effective July 1, 2015 and end on June 30, 2021.
The FAF is the independent, private-sector organization responsible for the oversight of FASB and the Governmental Accounting Standards Board (GASB). Prior to joining FASB in 2011, Buck spent 18 years as chief financial officer of Reasor’s Holding Company, a privately owned retail grocery company.
Schroeder, who also joined FASB in 2011, brings more than 30 years of experience in investing and financial reporting to the FASB. Previously, he was a partner at a money manager, Carlson Capital.
Buck and Schroeder originally were appointed to FASB in 2011, when the size of the board was increased from five to seven members. The Trustees last week amended the FAF bylaws to permit Buck and Schroeder, and any future member of FASB or GASB who is appointed to an initial term of less than five years, to serve a full ten years.