The Financial Accounting Foundation named Hillary Salo as the next chair of the Financial Accounting Standards Board, with her term starting July 1, 2027, and concluding June 30, 2034.
Salo currently serves as vice chair of the FASB and chair of the Emerging Issues Task Force and will succeed Richard Jones, whose term will conclude June 30, 2027.
Salo has worked to advance high-quality financial reporting through roles as a standard setter, audit partner, regulator, and advisor. Since rejoining the FASB as technical director in 2020, she has played a central role in shaping and advancing FASB's priorities and strengthening its engagement with stakeholders. Previously, she was an audit partner at KPMG LLP and held roles in the firm's audit quality and professional practice and accounting advisory services groups.
"Hillary has consistently demonstrated exceptional leadership, technical expertise, and a deep commitment to the FASB's mission," said FAF chair Dalia Blass in a statement Tuesday. "Her appointment as chair reflects the Trustees' confidence in her judgment, vision, ability to guide the FASB's work, and advance high-quality financial reporting in a changing environment. We are pleased to recognize Hillary's many contributions and look forward to her continued leadership in this important role."
Salo also served as a professional accounting fellow in the Office of the Chief Accountant at the Securities and Exchange Commission. She started her career as a FASB post-graduate technical assistant after graduating with an undergraduate degree in business administration and a master's degree in accountancy from the University of North Carolina at Chapel Hill.
"I couldn't be happier for the financial reporting community and Hillary on her appointment. Hillary is a highly respected leader whose experience, credibility, and sound judgment have earned the confidence of the financial reporting community," said Jones in a statement. "Her strong stakeholder relationships and proven ability to guide complex standard-setting priorities forward will serve the FASB and its stakeholders exceptionally well as she assumes the role of chair next year."
The FAF Board of Trustees also issued a call for nominations to fill the FASB member position that will be vacant due to Ms. Salo's appointment. The new member of the FASB will join a board of seven full-time members based in Norwalk, Connecticut, with a five-year term beginning July 1, 2027, and eligibility for a second five-year term.
For this open board position, the trustees are seeking candidates with a high degree of technical accounting experience along with an understanding of global financial reporting. Interested candidates should also possess a varied background at the senior level of the financial reporting profession, with substantive experience over the course of their career as a senior partner with a global or national accounting firm. They should have a strong understanding of current technical accounting and financial reporting issues; a CPA certification will be viewed as a strong asset.
In addition, the Board of Trustees said it is continuing its search for a FASB member to fill the vacancy that will be created by Marsha Hunt on July 1, 2027. For that open board position, the trustees are seeking candidates who will bring significant senior-level experience in the financial reporting profession, including experience as a preparer of financial statements for a public or private company, a strong technical understanding of accounting and financial reporting, and the ability to engage with senior-level professionals and influence at the Board level. Candidates with a global perspective, demonstrated thought leadership, public speaking experience, involvement in professional associations, a CPA credential, or experience or interest in standard setting are especially encouraged. The FAF actively seeks nominees who will contribute diverse personal and professional backgrounds and perspectives to the FASB.
Persons interested in nominating themselves or others for consideration can apply by emailing a resume and/or CV to a confidential email address at Spencer Stuart, FASB@spencerstuart.com, by Sept. 1, 2026.
Separately on Tuesday, the FAF announced the appointment of four new trustees: Christopher T. Hatto, Kevin T. McBride, David N. Miller and Robert M. "Kinney" Poynter. All four begin their term of service on Jan. 1, 2027, and conclude on Dec. 31, 2031.
"We are delighted to welcome Christopher, Kevin, David, and Kinney to the FAF Board of Trustees," said FAF Chair Dalia Blass. "Each brings significant leadership experience and extensive knowledge of financial and capital markets. Their perspectives will be invaluable as the Trustees continue to oversee and support the independent standard-setting missions of the FASB and the GASB."
The new appointees will fill vacancies left by retiring trustees Manju Ganeriwala, Edward (Ted) J. Goldthorpe, W. Bryan Lewis, and Diane C. Nordin, whose terms conclude on Dec. 31, 2026.
"The FAF also extends its sincere appreciation to our retiring board members," Blass added. "Their stewardship has helped advance the integrity, independence, and effectiveness of the standard-setting process, and we thank them for their lasting contributions."
