The Financial Accounting Foundation, overseer of the Financial Accounting Standards Board and the Governmental Accounting Standards Board, recently named Robert J. DeSantis to the newly created post of president and chief operating officer.DeSantis, a seasoned corporate executive, financial officer, public accountant and attorney, was, most recently, chief financial officer of, a broadband communications provider. He also served as executive vice president at Tellium Inc., a manufacturer of optical switching solutions, and held senior posts at both GTE Corp. and Big Four audit firm KPMG Peat Marwick.

"I consider it a privilege to be entrusted with a leadership role in the FAF because it is an organization which has always had - and especially today - a high degree of professional and public responsibility, and it certainly plays a critical role in the stability of the nation's capital markets," DeSantis said. "I think the creation of the president and COO position is really a demonstration by the foundation trustees of their commitment to not only the independence, but also to the effectiveness, of FASB and GASB by providing the FAF with the leadership necessary to carry out its responsibilities."

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