Board Members
The seven members of the FASB serve full time and, to foster their independence, are required to sever connections with the firms or institutions they served before joining the Board. While they individually have diverse backgrounds, each has a concern for investors, other users, and the public interest in matters of accounting and financial reporting and they collectively have "knowledge of accounting, finance, business, accounting education, and research.”
Board members are appointed for five-year terms and are eligible for reappointment to one additional five-year term. Expiration dates (on June 30) of current terms are indicated.
Leslie F. Seidman was named chairman of the FASB by the Financial Accounting Foundation, effective December 23, 2010. She was originally appointed to the FASB in July 2003 and was reappointed to a second term in July 2006. From 1994–1999, Ms. Seidman was a member of the FASB staff. She initially joined the organization as an industry fellow, after which she served as a project manager and as the assistant director of research and technical activities. In between her two tenures at the FASB, Ms. Seidman founded and managed a financial reporting consulting firm, serving corporations, accounting firms, and other organizations. Prior to her fellowship at the FASB, Ms. Seidman was a vice president in the accounting policies department of J.P. Morgan & Co. Inc.
>> More
Daryl E. Buck was named to the FASB by the Financial Accounting Foundation (FAF) in 2011. Mr. Buck brings a strong private company financial reporting perspective to the FASB. Prior to joining the Board, he spent eighteen years as Senior Vice President & Chief Financial Officer of Reasor’s Holding Company, a privately-owned retail grocery company. In addition to leading the company’s financial, tax, and treasury functions, he advised senior management and the Board of Directors about the financial and tax implications of strategic opportunities and acquisitions, playing a key role in setting its strategic direction.
>> More
Russell G. Golden was appointed to the FASB in 2010, reappointed to a second, five year term in 2012. He brings to this role deep experience in technical accounting issues obtained during his six years in various staff positions with the FASB, including serving as Technical Director from 2008 to 2010. Prior to joining the FASB in 2004, Mr. Golden was a partner at Deloitte & Touche LLP in the National Office Accounting Services department. In this role, he was responsible for providing timely and accurate accounting consultations to partners and clients throughout the United States and globally.
>> More
Thomas J. Linsmeier was appointed as a member of the FASB in July 2006, reappointed to a second term in 2011. An award-winning teacher and researcher with particular expertise in financial reporting for derivatives and risk management activities, Dr. Linsmeier was formerly Russell E. Palmer Endowed Professor and Chairperson of the Department of Accounting and Information Systems at Michigan State University. He also has served as Academic Fellow and Special Consultant to the Office of the Chief Accountant at the U.S. Securities and Exchange Commission (SEC). In addition, he has held professorial appointments at the University of Iowa and the University of Illinois at Urbana-Champaign.
>> More
R. Harold “Hal” Schroeder joined the FASB in February 2011. Mr. Schroeder is a CPA who brings over 30 years of diverse experience in investing and financial reporting to the FASB. Most notably, he brings a strong investor perspective to the FASB, with more than 15 years of experience working with all facets of the investment community. During his career, he has viewed the preparation of financial statements and the application of accounting standards from varying perspectives including auditor, preparer and investor. Prior to joining the Board, Mr. Schroeder was a partner at Carlson Capital, L.P., a Dallas-based money manager with assets under management of over $6 billion.
>> More
Marc A. Siegel was appointed to the FASB in 2008, reappointed to a second five-year term in 2013. In this role, he brings an investor perspective to the Board that establishes U.S. generally accepted accounting standards for private-sector entities, including businesses and not-for-profit organizations. A recognized expert in forensic accounting, Mr. Siegel has 20 years of experience in diverse and global industries that include technology, media, telecommunications, healthcare, retail, and insurance. Prior to his appointment to the FASB, he led the Accounting Research and Analysis team at the RiskMetrics Group in Rockville, Maryland.
>> More
Lawrence W. Smith joined the FASB in 2007, and was reappointed to a second five-year term effective July 1, 2012. Prior to his appointment, Mr. Smith spent five years as Director, Technical Application and Implementation Activities, of the FASB. In this role, he managed FASB activities related to application and implementation issues, and served as Chairman of its Emerging Issues Task Force (EITF). Mr. Smith joined the FASB staff in 2002 after a distinguished 25-year career at KPMG. From 1988 to 2002, he was a Partner with KPMG, located most recently in its Stamford, Connecticut office.
>> More