The International Financial Reporting Foundation named Sam Woods as chair of the International Accounting Standards Board, effective Oct. 1, 2026, and Steven Maijoor as the next chair of the IFRS Foundation Trustees, effective Jan. 1, 2027.
The new chair of the IASB, Sam Woods, previously served as deputy governor of the Bank of England and CEO of the U.K. Prudential Regulation Authority. He succeeds Andreas Barckow,
Before joining the PRA, Woods held various senior roles in the U.K. Treasury, the New Zealand Treasury and in the private sector. Originating from New Zealand, he holds an MBA from INSEAD and is a graduate of the University of Oxford.
Woods has long championed high-quality financial reporting standards as essential for a sound global financial system.
"High-quality accounting standards are a vital foundation of the global economy," he said in a statement. "I have been involved with IFRS Standards throughout my career as a financial regulator and look forward to working alongside talented staff and fellow board members at the IASB."
Maijoor is a former chair of the European Securities and Markets Authority (the European Union's financial market regulator and supervisor) and is currently a member of the Executive Board and Chair of Supervision of De Nederlandsche Bank, the central bank of the Netherlands. He also currently serves as a member of the Supervisory Board of the European Central Bank.
Earlier in his career he was a professor and dean at Maastricht University' School of Business and Economics. He graduated from the University of Groningen with a Master's degree in business economics and obtained a PhD in economics and accounting from Maastricht University.
He has served as a trustee at the IFRS Foundation since 2023 and more recently as chair of the Foundation's Due Process Oversight Committee, which oversees the standard-setting process of the IASB and the International Sustainability Standards Board. His appointment is for an initial three-year term. He succeeds Erkki Liikanen, who has chaired the trustees since 2018.
As the new chair, Maijoor will lead an international body of 22 trustees from every region of the world and will be supported by vice-chairs from the Americas and Asia. The trustees are responsible for the strategy, oversight, governance and funding of the IFRS Foundation and its independent standard-setting boards.
Maijoor's appointment has been approved by the IFRS Foundation Monitoring Board, a group of capital markets authorities to whom the trustees are accountable.
'I am honored to follow [current chair Erkki Liikanen] as the next chair of the trustees," Maijoor said in a statement Tuesday. "The foundation and its standards are trusted worldwide. I look forward to building on this success, working with the trustees, the leadership of both boards, our new managing director and others to ensure the foundation continues to transform and innovate in its work.'
Maijoor and Woods will work closely with ISSB chair Emmanuel Faber and incoming managing director Laura Forzani, who begins her appointment on Sept. 1, 2026. The trustees' Nominating Committee led the process for the appointments, supported by executive search firms.
"I congratulate Steven and Sam on their appointments," said Liikanen, in a statement. "Their impressive track records and achievements speak for themselves. Steven's time as a trustee and chair of the Due Process Oversight Committee will provide important continuity in trustee leadership, whilst Sam's senior experience and background in regulatory and treasury matters make him well placed to guide the IASB through the next stage of its evolution. I also thank Andreas for successfully implementing the IASB's work plan during his term as IASB chair."
Elizabeth McCaul, a former member of the European Central Bank's Supervisory Board, knows both Maijoor and Woods.
"I would not try to predict specific policy outcomes at this stage," she said in an email. "But based on my experience with both men, I would expect them to approach their roles with intellectual rigor, a strong commitment to the public interest and a practical understanding of how standards operate in the real world. Both gentlemen bring the highest level of integrity and excellence and represent the very best of public service. Steven Maijoor brings deep experience in governance, international coordination and building consensus across jurisdictions, while Sam Woods is a direct, pragmatic leader who is willing to engage closely with complex technical issues. Both understand that standards must be credible and technically sound, but also workable for the institutions that apply them and useful to investors and other stakeholders."
Gabriela Figueiredo Dias and Tom Seidenstein, chairs of the International Ethics Standards Board for Accountants and the International Auditing and Assurance Standards Board respectively, welcomed Maijoor's appointment. "We warmly welcome Steven Maijoor as Chair of the IFRS Foundation Trustees," they said in a joint statement Tuesday. "His deep experience across financial markets, audit regulation and international standard setting gives him a strong understanding of the interconnected system in which the IFRS Foundation, the IAASB, and the IESBA all operate. Coherence between financial and non-financial reporting, audit, and ethics and independence standards matters more than ever to investors, regulators, and the public. We are grateful to Erkki Liikanen for his leadership of the IFRS Foundation Trustees and for the strong engagement and collaboration between our organizations during his tenure. We look forward to building on this strong foundation with Mr. Maijoor to help ensure these standards continue to work together as one interoperable system."
Toshiyuki Miyoshi, chair of the IFRS Foundation Monitoring Board, praised both appointments. 'The Monitoring Board has approved Steven's appointment as the new Chair of the Trustees in view of his impressive background, including senior leadership experience at the national and international level combined with extensive knowledge of finance, economics, and policies," he said in a statement. "I congratulate him on the appointment and look forward to working closely with him. I am also pleased to warmly welcome Sam as chair of the IASB. His strengths in strategic thinking, leadership and management will surely help the IASB navigate the challenging times ahead."
International Federation of Accountants CEO Lee White expressed his support. "I have been fortunate to work with Steven over many years in different capacities and have always valued his thoughtful leadership, deep expertise, and unwavering commitment to the public interest," White said in a statement Wednesday. "I look forward to continuing our close collaboration in his new role as Chair of the IFRS Foundation Trustees. I also warmly congratulate Sam Woods on his appointment as chair of the IASB. His extensive experience in financial regulation and international policy, together with his strong commitment to high-quality global standards, will serve the IASB well as it continues to meet the evolving needs of investors, businesses, and capital markets. And I congratulate Laura Forzani on her appointment as managing director. Her proven leadership and operational expertise will be a tremendous asset to the Foundation as it continues to evolve and deliver on its important mission."
