Hillary Salo appointed as next FASB chair

The Financial Accounting Standards Board (FASB) has appointed Hillary H. Salo as its next chair. Salo, the current vice chair, is scheduled to succeed Richard R. Jones on July 1, 2027. Her term will run through June 30, 2034.

Salo’s professional background includes serving as a technical director at FASB starting in 2020, a professional accounting fellow at the Securities and Exchange Commission (SEC), and an audit partner at KPMG LLP. Outgoing chair Richard Jones expressed support for the appointment, citing Salo’s leadership and credibility within the financial reporting community.

The leadership transition will create two vacancies on the seven-member FASB board effective July 1, 2027. The Financial Accounting Foundation is seeking candidates with senior-level technical accounting experience, specifically those from global or national accounting firms, as well as individuals with preparer experience from public or private company backgrounds.