Russell Golden was named as the next chairman of the Financial Accounting Standards Board, effective July 1, 2013. Golden will succeed current FASB Chairman Leslie Seidman, whose term ends on June 30.

Golden’s initial term as FASB chairman will extend to June 30, 2017. At that time, he will be eligible to serve another term of three years. (FASB members are limited to serving a total of ten years on the Board.) He has served as a FASB member since his appointment in September 2010. Earlier, he was a partner at Deloitte & Touche.

“After an extensive search, which involved the evaluation of many highly qualified candidates from a variety of backgrounds, the Trustees determined that Russ Golden is the best qualified person to take on the role of FASB chairman,” stated Jeffrey Diermeier, chairman of the FAF Board of Trustees.

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