IFRS Foundation names new trustee

Core Viewpoint - The IFRS Foundation has appointed Hans-Ulrich Engel as the new trustee, effective immediately, with a term set to continue through 2028, potentially extendable [1][3]. Group 1: Appointment Details - Hans-Ulrich Engel, former vice-chairman and CFO of BASF, brings extensive expertise in finance, international business, and leadership to the IFRS Foundation [1][2]. - Engel's responsibilities will include overseeing the foundation's governance and strategy, particularly concerning the IASB and ISSB [1]. - Engel's appointment follows the departure of Erhard Schipporeit, and it has been sanctioned by the IFRS Foundation Monitoring Board [3]. Group 2: Engel's Background - Engel has a 35-year career at BASF, holding various senior positions, including vice chairman of the Board of Directors and chief digital officer, with experience in both Germany and the US [2]. - Currently, Engel serves on the boards of DHL Group and Harbour Energy, and presides over the Heinz Hermann Thiele Family Foundation's board of trustees [2]. Group 3: Statements and Future Directions - Engel expressed his privilege in being appointed and looks forward to supporting the Foundation's role in shaping international accounting and sustainability disclosure standards [3]. - IFRS chair Erkki Liikanen welcomed Engel, highlighting his extensive experience and leadership as invaluable to the group of Trustees [4]. - In July, the IFRS released advanced draft examples to aid companies in disclosing financial uncertainties, particularly related to climate scenarios [4][5].