Former Dutch politician to lead
IASC trustees

The former Deputy Prime Minister of
the Netherlands, Gerrit Zalm, has been appointed as the next
chairman of the trustees of the International Accounting Standards
Committee (IASC) Foundation. The trustees are the oversight body of
the International Accounting Standards Board (IASB). Zalm’s
three-year term will begin on 1 January 2008.

The appointment follows an extensive international search in
which candidates and nominations were sought from a wide range of
interested parties. The IASC said Zalm’s appointment carries the
strong support of the Trustee Appointments Advisory Group,
comprising leaders of major international organisations.

Zalm was the Netherlands Deputy Prime Minister from 2003 to 2007.
He also was the country’s Minister of Finance from 1994 to 2002 and
2003 to 2007.

He said he looks forward to working alongside IASB chairman David
Tweedie and fellow trustees..

“The IASC Foundation and the IASB have made extraordinary progress
in a short period of time and it is an honour to be selected to
lead the organisation,” Zalm remarked. “There is a growing
acceptance of the need for international accounting standards as
the basis of financial reporting for the world’s rapidly
integrating capital markets. It is the role of the trustees to help
ensure that progress continues on a worldwide basis.”

Zalm said in the coming months he will work on implementing a range
of oversight initiatives to advance the establishment of a
broad-based financing programme.

The current chairman of the trustees, Philip Laskawy, noted: “Zalm
has been a leading advocate of the adoption of International
Financial Reporting Standards in the European Union and brings
extensive experience in the field of international co-operation on
economic policy issues. The experience he gained as the Dutch
Finance Minister over nearly 12 years will be highly