The Financial Accounting Foundation (FAF) today announced the appointment of Hillary H. Salo as the next chair of the Financial Accounting Standards Board (FASB). Her term as chair will begin July 1, 2027, and conclude June 30, 2034.
Salo currently serves as vice chair of FASB and chair of the Emerging Issues Task Force. She will succeed Richard R. Jones, whose term concludes June 30, 2027.
Throughout her career, Salo has advanced high-quality financial reporting through roles as a standard setter, audit partner, regulator, and advisor. Since rejoining the FASB as technical director in 2020, she has played a central role in shaping and advancing the Board’s priorities and strengthening its engagement with stakeholders. Previously, she was an audit partner at KPMG and held roles in the firm’s audit quality and professional practice and accounting advisory services groups.
“Hillary has consistently demonstrated exceptional leadership, technical expertise, and a deep commitment to the FASB’s mission,” said FAF Chair Dalia Blass. “Her appointment as chair reflects the Trustees’ confidence in her judgment, vision, ability to guide the FASB’s work, and advance high-quality financial reporting in a changing environment. We are pleased to recognize Hillary’s many contributions and look forward to her continued leadership in this important role.”
Salo also served as a professional accounting fellow in the Office of the Chief Accountant at the U.S. Securities and Exchange Commission. She began her career as a FASB post-graduate technical assistant after graduating with an undergraduate degree in business administration and a master’s degree in accountancy from the University of North Carolina at Chapel Hill.
“I couldn’t be happier for the financial reporting community and Hillary on her appointment. Hillary is a highly respected leader whose experience, credibility, and sound judgment have earned the confidence of the financial reporting community,” said FASB Chair Jones. “Her strong stakeholder relationships and proven ability to guide complex standard-setting priorities forward will serve the FASB and its stakeholders exceptionally well as she assumes the role of chair next year.”
The Board of Trustees is also issuing a call for nominations to fill the FASB member position that will be vacant due to Ms. Salo’s appointment. The new member of the FASB will join a Board of seven full-time members based in Norwalk, Connecticut, with a five-year term beginning July 1, 2027, and eligibility for a second five-year term. 