FASB names new chairman

Russell G. Golden was named Tuesday as chairman of the Financial Accounting Standards Board, effective July 1.

Mr. Golden will succeed Leslie F. Seidman, who became chairwoman in 2010 and whose term ends June 30. Mr. Golden has been a FASB board member since 2010. Before joining the board, he was on the FASB staff for six years. His term as chairman will extend to 2017.

Financial Accounting Foundation, which oversees FASB, appointed Mr. Golden and announced the change in a statement. FAF is conducting a search to fill the seat that will be vacated when Ms. Seidman leaves the seven-member board.

Christine L. Klimek, senior manager of media relations and executive communications, said FAF expects to appoint a new board member by the end of June.