IFRS trustees chair Tommaso Padoa-Schioppa, 70, passed away on Saturday 18 December following a heart attack.
Earlier this year he was appointed chairman of the board of trustees of the International Accounting Standards Committee Foundation, recently renamed International Financial Reporting Standards Foundation (IFRS).
Padoa-Schioppa was widely considered to be one of the architects of the Euro. He was also a member of the European Central Bank’s first executive board and Italy’s former economic minister.
IASB chairman David Tweedie said Padoa-Tommaso possessed a rare combination of intellect and vision, delivered with a wry smile.
“He was a friend and colleague and will be missed by many, many people. I am greatly saddened by this news,” Tweedie said.