Liikanen made Chair of the IFRS Foundation Trustees

The Finnish Central Bank governor Erkki Liikanen has been appointed as the Chair of the IFRS Foundation Trustees, bringing significant international economic and policy leadership experience, said an official press release.

He succeeds Michel Prada, who has served as Chair since 2011.

The Trustees of the IFRS Foundation are responsible for the governance and oversight of the International Accounting Standards Board, which sets IFRS® Standards now required in more than 140 jurisdictions.

Liikanen takes up the position having served two seven-year terms as Governor of the Bank of Finland. He has also since 2004 been a Governor of the International Monetary Fund and a Member of the Governing Council of the European Central Bank.

Liikanen has many years' experience working internationally. Prior to joining the Bank of Finland, he was a Commissioner at the European Commission, first for Budget and then for Enterprise and Information Society. He served as the Minister of Finance in Finland from 1987 to 2009 and as the Head of the Finnish Mission to the EU at the Ministry for Foreign Affairs from 1990 to 1994. Mr Liikanen was the youngest Finn to become a Member of Parliament at the age of 21, serving for 18 years from 1972.