IFRS Foundation Trustees have announced that the International Sustainability Standards Board (ISSB) has undergone membership updates.  

Key changes include the reappointment of Sue Lloyd as vice-chair for a second term from 1 March 2026, alongside the reappointment of two other board members. 

Elizabeth Seeger and Hiroshi Komori have also been reappointed for second terms of five years and one year, respectively, effective from 1 October 2025. 

Michael Jantzi and Tae-Young Paik are set to depart from their roles as ISSB members on 30 September 2025.  

Following his departure, Paik will take on the role of senior advisor to ISSB chair Emmanuel Faber for a period of one year. 

IFRS Foundation Trustees chair Erkki Liikanen said: “The board has made remarkable progress as its Standards are being adopted or used by jurisdictions around the world to inform investors in the capital markets. I would like to thank the members for their commitment and contribution to the Foundation.” 

ISSB chair Emmanuel Faber stated: “The inaugural ISSB has delivered beyond what we promised, thanks to the incredible work and dedication of the inaugural board. 

“I want to express my gratitude to my colleagues Michael and Tae-Young, as they are stepping down, for their commitment and contribution both in the substance and in the functioning of our board.” 

In June 2025, the Trustees revealed plans to reduce the number of members on both the ISSB and the International Accounting Standards Board (IASB) from 14 to 10 by the end of 2028. 

This decision aligns with the end of board members’ terms and aims to streamline operations while maintaining a balanced geographical representation. 

The ISSB is an independent standard-setting board operating within the IFRS Foundation.

Earlier in September 2025, Hans-Ulrich Engel, the former vice-chairman and CFO of BASF, was appointed as a new trustee to the IFRS Foundation. Engel comes with experience in finance, international business, and leadership to the board.