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Chairman of Trustees Position - International Accounting Standards Committee Foundation

Monday, May 22, 2006

On May 22, 2006, Tommaso Padoa - Schioppa announced that he was stepping down from the position of Chairman of the Trustees of the International Accounting Standards Committee Foundation as a result of his appointment as Finance Minister of the new Italian Government. The Trustees have appointed Philip Laskawy, a retired Chairman of Ernst & Young International, as Chairman of the Trustees for the interim period.