IFRS Foundation announces updates to inaugural ISSB membership

The IFRS Foundation Trustees have today announced updates to the membership of the International Sustainability Standards Board (ISSB)—as several members’ inaugural terms come to an end—including the reappointment of Sue Lloyd to serve as Vice-Chair for a second term.

The Trustees are responsible for the governance of the Foundation, including the appointment of members of its standard-setting boards. Board members are appointed for terms and can serve a maximum of 10 years in total.

Sue Lloyd has been reappointed to serve a second term of four years as Vice-Chair, starting 1 March 2026; Elizabeth Seeger has been reappointed to serve a second term of five years; and Hiroshi Komori has been reappointed for a second one-year term. Both Ms Seeger and Mr Komori’s terms are effective 1 October 2025.

Michael Jantzi and Tae-Young Paik are stepping down as ISSB members when their terms end on 30 September 2025, with Mr Paik becoming a Senior Advisor to the ISSB Chair Emmanuel Faber for one year.

Erkki Liikanen, Chair of the IFRS Foundation Trustees, said:

The ISSB was created in response to demand from investors, regulators and others for global standards for sustainability disclosures focused on financial materiality. The board has made remarkable progress as its Standards are being adopted or used by jurisdictions around the world to inform investors in the capital markets. I would like to thank the members for their commitment and contribution to the Foundation.

Emmanuel Faber, ISSB Chair, said:

The inaugural ISSB has delivered beyond what we promised, thanks to the incredible work and dedication of the inaugural board. I want to express my gratitude to my colleagues Michael and Tae-Young, as they are stepping down, for their commitment and contribution both in the substance and in the functioning of our board. I am proud to work with such talented individuals and look forward to continuing to serve the capital markets with my colleagues.

The Trustees announced in June the decision to gradually transition from 14 to 10 members of both the ISSB and its sister board, the International Accounting Standards Board (IASB), by the end of 2028, as board members’ terms end. The Trustees are committed to maintaining an appropriate geographical balance of the membership in the transition to smaller boards.