News Release 12/18/18

FAF Trustees Name New Members to the FASAC

Norwalk, CT—December 18, 2018—The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the appointment of 11 new members to the Financial Accounting Standards Advisory Council (FASAC).
In addition to the new appointees, the FAF Trustees also reappointed 21 FASAC members.
The FASAC advises the Financial Accounting Standards Board (FASB) on strategic and technical issues, project priorities, and other matters that affect standard setting. The FASAC provides the FASB with diverse perspectives from individuals with varied business and professional backgrounds.
The new FASAC members will serve a one-year term beginning January 1, 2019, and are eligible to be reappointed for three additional one-year terms.  They are:
  • James Andrus, Investment Manager, CalPERS
  • Lisa Coleman, Managing Director, JP Morgan Asset Management
  • Mary T. Hoeltzel, Vice President, Global Chief Accounting Officer, Cigna
  • Cynthia T. Jamison, Chairman of the Board, Tractor Supply; Board Member, Office Depot, Big Lots, and Darden Restaurants
  • Alice L. Jolla, Corporate Controller, Microsoft Corporation
  • Karen Korn, Senior Vice President, Healthcare Group and Former Director, Fundamental Research, Fidelity Investments
  • Kevin M. Mixon, Analyst, Citadel LLC
  • Michael M. Morrow, Board Member, Cabot Corporation
  • Randy D. Oberdiek, Partner—Regional Accounting and Auditing Director, BKD, LLP
  • John W. Pietrowicz, Senior Managing Director and Chief Financial Officer, CME Group
  • David Sullivan, National Managing Partner, Quality & Professional Practice, Deloitte 
Nine members will retire from FASAC on December 31, 2018: Richard R. Jones, Sean C. Miller, Gregg L. Nelson, Douglas R. Oare, Sherry M. Smith, Lee Sotos, Sharon A. Virag, Joan E. Waggoner, and Thomas W. White.
For a full listing of current FASAC members, visit the FASAC webpage.

About the Financial Accounting Foundation

Established in 1972, the Financial Accounting Foundation (FAF) is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut responsible for the oversight, administration, financing, and appointment of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). The FASB and GASB establish and improve financial accounting and reporting standards—known as Generally Accepted Accounting Principles, or GAAP—for public and private companies, not-for-profit organizations, and state and local governments in the United States. For more information, visit

About the Financial Accounting Standards Board (FASB)

Established in 1973, the FASB is the independent, private-sector organization, based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA). The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the FASB. For more information, visit