FASB names Robert Herz new chairman

Herz succeeds Edmund Jenkins, who will retire on June 30 upon completion of his five-year term.

Jenkins warned Congress in March not to take its post-Enron zeal for market regulation too far. He was responding to proposed legislation that would give the US Securities and Exchange Commission and Congress greater power to oversee FASB activities.

Herz is a partner on PricewaterhouseCoopers' US and global boards. He also serves as a part-time member of the International Accounting Standards Board.

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