Global Standards for the world economy

Thursday 25 May 2017

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 IASB Chair search

Sir David Tweedie, Chairman of the International Accounting Standards Board (IASB) retired at the end of June 2011 having served the maximum two five year terms as stipulated by the constitution of the IFRS Foundation. The Trustees appointed Hans Hoogervorst to succeed Sir David Tweedie. Click here for more information.

By the terms of the constitution of the IFRS Foundation, the Trustees are responsible for the appointment of members of the IASB, including the Chairman. Accordingly, after consultation with, and with the endorsement of the full body of Trustees, the Nominating Committee initiated the search for Chairman of the IASB at the end of 2009.

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



Date Action
Sept 2009 Sir Bryan Nicholson, incoming chair of the Trustees' Nominating Committee, consults individually with world standard-setters at their meeting in London to seek their views on the candidate profile and to invite them in due course to suggest names for Sir David's replacement. Similarly, he also consults all existing IASB board members and senior technical advisors.
Oct 2009 Spencer Stuart, a leading international executive search firm, appointed to assist with the search. Trustees, supported by Spencer Stuart, developed a job description / person specification and agree to a detailed timetable for the search.
Dec 2009 Sir Bryan Nicholson writes to the Monitoring Board detailing the recruitment process and timetable, attaches a copy of the job description / person specification and seeks input from the Monitoring Board on nominations.
Sir Bryan Nicholson writes to more than 500 stakeholders detailing the recruitment process and timetable, attaches a copy of the job description / person specification and seeks input on nominations.
Jan 2010 Advertisements placed on the IASB website and published in The Economist.
Feb 2010 The Nominating Committee begins consideration of long-list recommendations from the global search by Spencer Stuart, from nominations by organisations, and individual applications from more than 28 countries.
31 March - 2 April 2010 Nominating Committee reduces candidate list to shorter list for more detailed consideration. Nominating Committee provides update and seeks input from the Monitoring Board and Trustees at their 2 April meeting in London.
May / June 2010   Sir Bryan Nicholson provides an update on the search process during a  podcast summary of the 2008 - 2010 Constitution Review. Nominating Committee gives further consideration to candidate names.
July 2010 Further update to the Monitoring Board. Status review with all Trustees at the Trustees meeting in Washington, D.C.
Sept 2010 Trustees Nominating Committee meeting planned.
Oct 2010 Subject to the usual caveats on timing in any search process, the Trustees expect to discuss any recommendation at their meeting in Seoul, Republic of Korea, in October.
12 Oct 2010 Trustees appoint Hans Hoogervorst to succeed Sir David Tweedie. Click here for more information.