Hoogervorst to succeed Tweedie as IASB chair

(Accountancy Age) – Sir David Tweedie, head of the International Accounting Standards Board, will be succeeded by Hans Hoogervorst, current chairman of the Netherlands markets regulator.

He will be supported by Ian Mackintosh, current head of the UK Accounting Standards Board, who was named vice chairman. Tweedie is due to step down in June 2011.

Hoogervorst’s appointment was immediately welcomed by Europe. European Commission of internal markets, Michel Barnier, Hoogervorst’s background experience as a minister and markets supervisor gave him “a good understanding for the broader international context in which the IASB operates”.

“I look forward to working with Hans and with the IFRS Foundation’s Trustees in order to continue strengthening the governance and accountability of the IASB,” Bariner added. “I have full confidence that Hans understands the importance of continuing to make progress in this direction.”

Hoogervorst currently chairs the IASB’s supreme oversight body, the monitoring board, comprised of regulators from Japan, Europe, America and Malaysia. The monitoring board were consulted before the final decision.

He also chairs the technical committee at the International Organization of Securities Commissions (IOSCO) and is co-chair of the Financial Crisis Advisory Group.