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October 09, 2015 9:41 PM ET

Commercial Services and Supplies

Company Overview of Financial Accounting Foundation Inc.

Company Overview

Financial Accounting Foundation Inc. offers funding and selection services for the members of the Financial Accounting Standards Board (FASB) and Governmental Accounting Standards Board (GASB). The foundation operates for charitable, educational, scientific, and literary purposes. Financial Accounting Foundation was founded in 1972 and is based in Norwalk, Connecticut.

Main Avenue 401 Merritt 7C

Norwalk, CT 06851

United States

Founded in 1972



Key Executives for Financial Accounting Foundation Inc.

Chief Executive Officer and President
Vice President and Additional Trustee
Director of Government Relations
Vice President of External Relations & Communications
Secretary, Treasurer, and Trustee
Age: 54
Compensation as of Fiscal Year 2015.

Financial Accounting Foundation Inc. Key Developments

Financial Accounting Foundation Announces Executive Changes

The Board of Trustees of the Financial Accounting Foundation (FAF) appointed a new chair and three new members of the Private Company Council (PCC) to three-year terms that begin on January 1, 2016. FAF noted that named as incoming PCC chair was Candace E. Wright, who serves as a director with Postlethwaite & Netterville. Wright will succeed Billy M. Atkinson, whose term will conclude on December 31. With more than 30 years of experience in the accounting profession, Wright is the service line leader for Postlethwaite & Netterville's Assurance Services Group and the firm's quality control director. She also leads the firm's Financial Institutions industry group and Peer Review Services. The foundation said that other new members appointed to the Council were: Timothy J. Curt (preparer)-managing director and partner of Warburg Pincus LLC, David S. Lomax (user)-assistant vice president and underwriting officer of Liberty Mutual Insurance Company and Harold L. Monk Jr. (practitioner)-partner of Carr, Riggs & Ingram LLC. The three new members will replace current PCC members Mark Ellis (preparer), Neville Grusd (user), and Diane Rubin (practitioner), whose terms end on December 31.

Financial Accounting Foundation Announce Executive Changes

Financial Accounting Foundation (FAF) announced that Todd L. Cranford will become its new head of government affairs and external relations, based in Washington DC, effective June 1, 2015. In his new role, Mr. Cranford will be responsible for managing the organization's relationships with government officials and other key stakeholders, communicating the goals, priorities, and activities of the FAF, the Financial Accounting Standards Board (FASB), and the Governmental Accounting Standards Board (GASB). Mr. Cranford will assume his new responsibilities following the retirement on May 29 of Grace L. Hinchman, who currently leads the FAF's government affairs and external relations efforts. Mr. Cranford has spent most of his professional career in Washington, DC, with more than 20 years of experience in both private and public sector roles.

Financial Accounting Foundation Inc. Announces Executive Changes

NORWALK, Conn.--(BUSINESS WIRE)-- The Financial Accounting Foundation (FAF) announced that it has appointed Myra R. Drucker and John Veihmeyer to the FAF Board of Trustees, January 15, 2015 effective. Ms. Drucker currently serves as an independent director and chairs the Risk and Audit Committee of Grantham, Mayo, Van Otterloo & Co. LLC. She also serves as chair of the board of TrustedPeer Inc. Mr. Veihmeyer is Global Chairman of KPMG and Chairman and CEO of KPMG in the U.S. The terms of Ms. Drucker and Mr. Veihmeyer on the Board of Trustees extend to December 31, 2019. They replace Luis M. Viceira and Edward E. Nusbaum, whose terms ended on January 14, 2015.

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