The IFRS Foundation has today announced the appointment of Hans-Ulrich Engel, former Vice Chairman and CFO of BASF, as a new Trustee with immediate effect.
Mr Engel brings extensive international business, finance and leadership expertise to the Foundation. The Trustees are responsible for the strategy, governance and oversight of the Foundation, including the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB). His appointment is until the end of 2028, effective immediately, and renewable for a second term.
Mr Engel has held several senior roles during his 35-year tenure with the German multinational company BASF, including Vice Chairman of the board of directors, Chief Financial Officer and Chief Digital Officer, working in both Germany and the United States. He currently holds non-executive director roles with DHL Group and Harbour Energy and chairs the board of trustees of the Heinz Hermann Thiele Family Foundation. He is a lawyer and holds a PhD from the University of Göttingen in Germany.
Mr Engel will succeed Erhard Schipporeit, who has decided to step down as a Trustee.
Erkki Liikanen, Chair of the Trustees, said:
We are delighted to welcome Hans to the IFRS Foundation. His extensive experience and leadership in the private sector will be invaluable to the group of Trustees. I would also like to thank Erhard for his contribution to the Foundation’s mission during his five years as a Trustee.
Mr Engel said:
It is a privilege to be appointed as a Trustee of the IFRS Foundation. I look forward to working with my fellow Trustees to support the Foundation’s unique role in shaping the future of international accounting and sustainability disclosure standards.
The appointment has been approved by the IFRS Foundation Monitoring Board, which provides a formal link between the Trustees and public authorities.
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