The Financial Accounting Foundation has appointed two new members, Daryl E. Buck and R. Harold (Hal) Schroeder, to the Financial Accounting Standards Board, increasing the size of the board to seven members.
Buck is currently senior vice president and CFO of Reasor’s Holding Company in Tahlequah, Okla., and Schroeder is currently a partner in Carlson Capital, L.P., in its Greenwich, Conn., office.
Buck, as CFO of Reasor’s, brings 18 years of private company experience in financial reporting, planning and analysis to the FASB. Earlier in his career, he led audit engagements at Arthur Andersen & Co. for a diversified group of financial and industry clients, both public and private. Buck has also served as a member of the Private Company Financial Reporting Committee, an advisory group to the FASB, and more recently served as a member of the Blue Ribbon Panel on Standard Setting for Private Companies.
Schroeder has a diverse investor and financial reporting background and has served over the last 30 years as a senior equity analyst, a CFO, and an audit partner at Ernst & Young. As a senior portfolio manager for the last 11 years, Schroeder oversaw financial services investments at Carlson Capital L.P., a Dallas-based alternative asset management with over $6 billion of assets under management. He also served as a member of Carlson’s investment and management committees and as a member of FASB’s Emerging Issues Task Force.
"We are delighted to appoint Daryl and Hal to the FASB," said FAF Chairman John J. Brennan in a statement. "Daryl brings hands-on experience with the issues private companies are facing, along with great expertise garnered from his auditing background in serving the differing needs of many constituents. Hal has significant experience in all aspects of financial reporting and is driven by a strong dedication to transparency for investors. These appointments further strengthen the FASB’s expertise in areas that are vital to accomplishing its mission.”
Buck and Schroeder will fill two additional seats on FASB announced in August, bringing the size of the FASB board to seven members. Board member Leslie Seidman took over as chairman following the retirement last year of Robert Herz. Russell Golden was appointed last September to fill her place on the board (see FASB Names Golden as Board Member).
"Daryl and Hal’s backgrounds reflect the diversity of our stakeholders and align superbly with our challenging agenda to address important reporting issues for public and private companies, both domestic and international," said Seidman. "It’s great to have such capable and accomplished individuals join the board at a critical time in the FASB’s history."
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