NEWS RELEASE 11/16/11

Financial Accounting Foundation Appoints Three New Members to Its Board of Trustees

Norwalk, CT, November 16, 2011—The Financial Accounting Foundation (FAF) today announced that Paul G. Camell, W. Daniel Ebersole, and Michelle R. Seitz have been appointed to the FAF Board of Trustees. The FAF is the independent, private-sector organization responsible for the oversight of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).

“The FAF Board of Trustees is proud to welcome its newest Board members Paul, Dan, and Michelle,” said FAF Chairman John J. Brennan. “Their wide-ranging experience and extensive financial backgrounds will add significant value to the Trustees as we work to support the FASB and GASB’s mission of independent and open standard setting.”

Paul G. Camell, MBA, is executive vice president of mergers & acquisitions and chief administrative officer for CDM, a global consulting, engineering, construction, and operations firm. Mr. Camell previously served as the firm’s chief financial officer and senior vice president of finance.

Dan Ebersole served as the state treasurer for the state of Georgia from 1997 to 2010, and was responsible for investing more than $14 billion of state and local government funds and administering two local government investment pools. Mr. Ebersole has more than 30 years of experience in both the executive and legislative branches of Georgia state government and served as a member of the Governmental Accounting Standards Advisory Council (GASAC) from 2003 to 2010. He was chairman of the group from 2008 until 2010.

Michelle R. Seitz, CFA, is a member of the Executive Committee of William Blair & Company, L.L.C. Ms. Seitz has more than 24 years of investment experience and leads William Blair Investment Management, consisting of the institutional, mutual fund, and private wealth management businesses.

All three Trustees will serve a five-year term that begins January 1, 2012.


About the Financial Accounting Foundation

The FAF is responsible for the oversight, administration, and finances of both the Financial Accounting Standards Board (FASB) and its counterpart for state and local government, the Governmental Accounting Standards Board (GASB). The Foundation is also responsible for selecting the members of both Boards and their respective Advisory Councils.