Jean Rogers, founder and former CEO of the Sustainability Accounting Standard Board (SASB) has stepped down from her role as chair of the organisation.
Jeffrey Hales, current vice chair and a professor of accounting at the Georgia Institute of Technology, has taken over.
Rogers founded the SASB in 2011, and served as its CEO until May 2017, when the organisation was restructured to strengthen its governance and accountability.
She then became chair of the nine-member SASB, which said she helped guide the organisation's technical standard-setting efforts as it began work to codify its provisional standards.
Rogers said: “Establishing a market standard for disclosure of material sustainability factors is what I've been working toward for seven years.
"This new phase will bring new challenges. It feels like the right time for me to pass the torch, and I'm truly grateful that I'm able to pass it into such capable hands."
Robert Steel, chair of the SASB Foundation, which funds and oversees the SASB, said: "Without Jean's vision and guidance, we would not be here today. Now that the standards are nearly codified and ready for use, we must pivot toward implementation. This is where Jeff's technical expertise and practical understanding will be invaluable."
The SASB said it will now look to focus on maintaining and improving the standards through independent research and practical feedback from corporations, investors and other market participants.
Hales commented: “Although codification is the culmination of seven years of hard work, it's the starting line for market uptake of the standards.
“Our ongoing dialogue with practitioners will shine a light on some of the finer points of implementation and help shape the future of the SASB standards. I'm honoured to lead that conversation."
Rogers will continue on in a consulting capacity to the SASB through August 1, 2018.