GASB chairman to retire next year

The Financial Accounting Foundation plans to search for a chairman of the Governmental Accounting Standards Board to replace Robert H. Attmore, who intends to retire in June, a year before his term ends.

FAF trustees on its “appointments and evaluations committee will be developing a plan for filling the vacancy that may include using an executive search firm,” said John C. Pappas, FAF senior manager media relations and constituent communications.

FAF, which oversees GASB, appoints the chairman and the six other members. GASB sets financial accounting and reporting standards for state and local government.

“We won't have specific detail on how this process will play out until the committee completes its plan,” Mr. Pappas said. The committee hasn't specified a time frame for developing the search process, he added.

Mr. Attmore plans to retire a year before his term ends in 2014 for personal reasons, Mr. Pappas said. Mr. Attmore was first appointed to a five-year term in 2004 and reappointed to another five-year term starting in 2009.

GASB board members can serve up to 10 years, Mr. Pappas said. The GASB chairman is a full-time paid position, while the other six GASB members serve on a part-time basis.