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The Trustees of the IFRS Foundation have announced the appointment of Michel Madelain as Managing Director of the IFRS Foundation for a two-year term beginning 9 September 2024.

Mr Madelain is an experienced and highly regarded leader, having previously served as President and Chief Operating Officer (COO) of Moody's Investor Services and a former partner of EY France. He served as a Trustee of the IFRS Foundation from 2018 to 2023, during which time he chaired the Nominating Committee; was instrumental in work to establish the International Sustainability Standards Board (ISSB) alongside the International Accounting Standards Board (IASB); and led the consolidation of the Climate Disclosure Standards Board and the Value Reporting Foundation into the Foundation.

Reporting to the Chair of the Trustees, the Managing Director is responsible for leading the development and implementation of the IFRS Foundation’s strategic plan, as well as leading the IFRS Foundation’s central team. Key priorities include delivering on the efficiency and effectiveness of the One Foundation, two boardsoperating model; evolving the long-term strategy and funding arrangements of the Foundation; and working with the leadership of the IASB and ISSB in their strategic planning.

The appointment of Mr Madelain provides the Foundation with strong and experienced leadership at an important time, whilst also allowing the Trustees to consider the longer-term leadership requirements for the organisation as part of a search process initiated following the departure of Lee White earlier this year.

Commenting on the appointment, Trustee Chair Erkki Liikanen said:

I am grateful to Michel for agreeing to serve as Managing Director of the IFRS Foundation. His vast operational experience as a COO and significant familiarity with the IFRS Foundation gained as a Trustee will allow him to immediately contribute to the success of the organisation.

Michel Madelain said:

I am pleased to be able to serve once again in support of the IFRS Foundation, this time as Managing Director, and look forward to working closely with the Trustees, the IASB and the ISSB. I also thank Andrea Pryde for serving as Acting Managing Director and look forward to working with her in her capacity as Executive Operations Director.

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IFRS Foundation strategy and governance