FAF Appoints Steven A. Hobbs as Vice President and General Counsel

Norwalk, CT—April 29, 2020—The Financial Accounting Foundation (FAF) today announced that it has appointed Steven A. Hobbs as vice president and general counsel.

In this role, Mr. Hobbs will conduct and oversee the primary legal duties of the general counsel’s office, including handling contracts, governance matters, managing outside counsel, and providing counsel on general legal issues facing the organization.

Mr. Hobbs has supported the FAF leadership team during the past year as outside counsel, and succeeds John W. Auchincloss, who is now the FAF’s executive director. Mr. Hobbs brings to this work extensive experience in corporate law both as in-house counsel and at a large law firm, in addition to experience as a senior business executive.

At Hearst Corporation, which Mr. Hobbs joined in 2004, he held several executive roles of increasing responsibility, including as chief legal and development officer of Hearst-Argyle Television, Inc., a NYSE-listed company.  His responsibilities at Hearst culminated with his service as executive vice president, deputy group head and chief development officer of the Hearst Business Media division.

Before joining Hearst, Mr. Hobbs was a partner for 10 years in the international law firm of Clifford Chance US LLP (formerly Rogers & Wells). He specialized in securities and mergers and acquisitions and held various management positions at that firm. He represented Hearst in numerous public and private merger and acquisition transactions, including for 18 of its television stations; daily newspapers in San Francisco, Houston, and San Antonio; and Seventeen and Veranda magazines.

“Steve has provided exemplary service to the Financial Accounting Foundation since he was retained by us last year on an interim basis,” Mr. Auchincloss commented. “We are very pleased he will continue with us as our general counsel, and we look forward to benefiting from his legal insights and experience.”

Mr. Hobbs earned his undergraduate degree from Cornell University and is a graduate of the Georgetown University Law Center.