William McDonough, the chairman of the Public Company Accounting Oversight Board, which oversees the accounting industry, announced Friday that he will resign by Nov. 30 or when a successor is in place, whichever is sooner. He said he planned to explore opportunities in corporate governance, finance or international affairs. SEC Chairman Christopher Cox said in a statement he was grateful that McDonough had agreed to remain in place "long enough to permit a thorough search for a worthy successor."
September 26, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
William McDonough, the chairman of the independent board overseeing the accounting industry, announced Friday that he will resign by Nov. 30.
McDonough, a former Federal Reserve official, in June 2003 became head of the Public Company Accounting Oversight Board, which was created by Congress in 2002 to help shore up investor confidence after the wave of corporate scandals.
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