The IFRS Foundation has announced changes to the ISSB membership, including reappointments and departures, as inaugural terms come to an end. Key updates include Sue Lloyd reappointed as Vice-Chair and a transition to smaller boards by 2028.
Key Points
•👥 Reappointments: Sue Lloyd as Vice-Chair, Elizabeth Seeger, and Hiroshi Komori
•📅 Effective Dates: Lloyd from March 2026, Seeger and Komori from October 2025
•🔄 Departures: Michael Jantzi and Tae-Young Paik stepping down in September 2025
•🗓️ Transition: Move from 14 to 10 members by 2028
•🌍 Global Standards: Commitment to geographical balance in board membership
🔍 The Big Reveal
The IFRS Foundation Trustees have announced significant updates to the International Sustainability Standards Board (ISSB) membership. With inaugural terms ending, the shuffle includes reappointments and some farewells. Notably, Sue Lloyd will continue her role as Vice-Chair for a second term starting in March 2026. Elizabeth Seeger and Hiroshi Komori are also reappointed, with their terms beginning in October 2025.
👥 Who's In and Who's Out
In a game of musical chairs, the board sees some changes. Michael Jantzi and Tae-Young Paik will step down when their terms end in September 2025. But don't worry, Paik will stay on as a Senior Advisor to ISSB Chair Emmanuel Faber for a year. It's like moving from the driver's seat to the co-pilot's chair.
🌍 Balancing Act
The Trustees have a plan: transition from 14 to 10 members by 2028. This move aims to keep the board lean while maintaining a geographical balance. Erkki Liikanen, Chair of the IFRS Foundation Trustees, emphasized the board's progress in setting global standards for sustainability disclosures, which are already being adopted worldwide.
🎯 The Bottom Line
The ISSB has exceeded expectations, thanks to the hard work of its inaugural members. Emmanuel Faber, the ISSB Chair, expressed his gratitude to Michael and Tae-Young for their contributions, highlighting the board's commitment to serving the capital markets with top-notch standards.
