The Board of Trustees of the Financial Accounting Foundation (FAF)
today announced the appointment of Kathleen L. Casey, Jeffrey L. Esser,
and David C. Villa to the FAF Board of Trustees, effective January 1,
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Kathleen L. Casey (Photo: Business Wire)
The FAF is the parent organization of the Financial Accounting Standards
and the Governmental Accounting Standards Board (GASB).
“The FAF Board of Trustees is pleased to welcome Kathleen, Jeffrey, and
David as its newest members,” said FAF Chairman Charles H. Noski. “Their
diverse experience and expertise will help the Trustees direct the
effective, efficient, and appropriate stewardship of the FASB and GASB
in carrying out their missions.”
The new appointments will fill upcoming vacancies on the Board of
Trustees. Trustees whose terms conclude on December 31, 2017, are
Secretary and Treasurer Ann
Marie Petach, Charles
S. Cox, and John
“On behalf of the FAF, I want to thank Ann Marie, Charles, and John for
their years of leadership, service, and their valuable oversight of the
FASB and GASB’s standard-setting process,” said FAF President and CEO
Teresa S. Polley.
Below are brief biographical sketches of the new Trustees:
Kathleen L. Casey is a senior advisor with Patomak Global
Partners LLC and previously served as a U.S. Securities and Exchange
Commission (SEC) commissioner. She also sits on the board of directors
of HSBC Holdings plc, and serves as chairman of the Board of Penn State
Health. Ms. Casey also serves on the Library of Congress Trust Fund
Board, the International Valuation Standards Council, and the
Pennsylvania State University Board of Trustees. She began her career
working for the U.S. Senate, including serving as staff director and
counsel to the U.S. Senate Banking, Housing, and Urban Affairs Committee.
Jeffrey L. Esser is the executive director emeritus of the
Government Finance Officers Association (GFOA). He recently retired from
the GFOA after serving more than 35 years as chief executive officer.
Mr. Esser also sits on the boards of directors of the Center for State
and Local Government Excellence and is chair of the Endowment Board of
the Bernard Zell Day School in Chicago. He is also a volunteer
consultant with the Executive Service Corps of Chicago and provides
strategic and financial advice to not-for-profit organizations. Before
joining GFOA in 1979 as the director of its Federal Liaison Center, Mr.
Esser served as the staff director of government operations and director
of the criminal justice and consumer affairs project for the National
Conference of State Legislatures.
David C. Villa is the chief investment officer for the State of
Wisconsin Investment Board. He also sits on the boards of
directors of the Marguerite Casey Foundation and the Madison College
Foundation. With more than 35 years of experience in the
financial services profession, Mr. Villa previously served as chief
investment officer for the Florida State Board of Administration, and
also worked for UBS Global Asset Management/Brinson Partners in Chicago
as an executive director and client relationship manager. Mr. Villa
began his career with First Chicago and Arthur Andersen.
About the Financial Accounting Foundation
Established in 1972, the Financial Accounting Foundation (FAF) is the
independent, private-sector, not-for-profit organization based in
Norwalk, Connecticut responsible for the oversight, administration,
financing, and appointment of the Financial
Accounting Standards Board (FASB) and the Governmental
Accounting Standards Board (GASB). The FASB and GASB establish and
improve financial accounting and reporting standards—known as Generally
Accepted Accounting Principles, or GAAP—for public and private
companies, not-for-profit organizations, and state and local governments
in the United States. For more information, visit www.accountingfoundation.org.
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