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Tuesday 30 May 2017

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IFRS Foundation Chair Search


 IFRS Foundation Chair Search


This role became vacant following the untimely death of Tommaso Padoa-Schioppa. Michel Prada has been appointed Chair of the IFRS Foundation Trustees, effective 1 January 2012.

The following information provides a chronological summary of activities relating to the entire search process. The search process is now concluded.


Date Action
Q1 2011 Sir Bryan Nicholson, chair of the Trustees� Nominating Committee, agreed the job specification with the Trustees and the Monitoring Board.
Spencer Stuart, a leading international executive search firm, were appointed to assist with the search.
The Nominating Committee and the full Trustees agreed the search process.
Sir Bryan Nicholson wrote to Trustees and former Trustees to ask them to nominate suitable names.
Sir Bryan Nicholson wrote to the Monitoring Board seeking agreement to the search process and inviting them to submit names.
An advertisement was placed in Economist and also on the IFRS Foundation website.
Q2 2011 An extensive search process was followed with the assistance of Spencer Stuart. Trustees, Former Trustees, the Monitoring Board and an extensive list of key stakeholders were all approached and asked to suggest any potential names.
A Nominating Committee conference call was held to agree potential prospects to be added to the short list.
Spencer Stuart contacted shortlist names to ascertain if they were willing to be candidates.
A Nominating Committee conference call was held to agree the final list of candidates for submission to Monitoring Board
Sir Bryan Nicholson wrote to the Monitoring Board seeking their agreement to the shortlist of names as all being potentially appointable.
The Monitoring Board approved shortlist names submitted by the Nominating Committee.
Q3 2011 The Nominating Committee interviewed approved candidates and reported back to Trustees, and then to the Monitoring Board.
Q4 2011 The Trustees reviewed the position at their October 2011 meeting in Paris.
Trustees submitted their preferred candidate for approval by the Monitoring Board.
The Monitoring Board undertook its own process for a preferred candidate approval.
Michel Prada appointed as Chairman of the IFRS Foundation Trustees in December 2011, effective 1 January 2012.  Click here to read the press release on the appointment.