Teresa S. Polley is resigning as president and CEO of the Financial Accounting Foundation, spokesman Matthew J. Broder said.
Ms. Polley, who has held the position for 11 years, plans to stay until the transition to the acting president is completed. John W. Auchincloss, vice president and general counsel, will take on that role sometime in the coming weeks, Mr. Broder said.
The board of trustees will then determine how to fill the role on permanently, Mr. Broder added. Ms. Polley's plans have yet to be determined.
The Norwalk, Conn.-based Financial Accounting Foundation is the independent, private-sector, not-for-profit organization that oversees the administration, financing, and appointment of the Financial Accounting Standards Board, the Governmental Accounting Standards Board, and their advisory councils.
