The U.S. Securities and Exchange Commission (SEC) has named a new leadership team for the Public Company Accounting Oversight Board (PCAOB), the body that oversees audits of listed companies and broker-dealers.
Demetrios Logothetis has been chosen to chair the PCAOB. His term is expected to last until October 24, 2030.
Logothetis serves on the board of directors of Republic Bank of Chicago, where he heads the audit committee.
Alongside the new president, three additional members were named: Mark Calabria, Kyle Hauptman and Steven Laughton.
Calabria was appointed to the board of directors, for a term ending October 24, 2027. He currently serves as associate director and chief statistician at the U.S. Office of Management and Budget.
Hauptman was appointed to serve a term through October 24, 2029. He currently serves as chairman of the National Credit Union Administration.
Laughton, currently a board advisor to PCAOB board member Christina Ho, will serve on the PCAOB board until October 24, 2026.
The SEC noted that current board member George Botic would remain a member of the board. He will remain interim president until Logothetis officially assumes the role.
SEC Chairman Paul Atkins said, “I am confident that this new board will usher in a new day at the PCAOB – one of sensible and effective auditor oversight.
“The newly appointed chairman and board members have already demonstrated a deep commitment to investor protection and responsible use of these funds by accepting compensation that is much more consistent with the public service ethos.
“I look forward to working with this Board as it refocuses on the PCAOB’s core statutory mission: protecting investors and promoting the public interest in the preparation of informative, accurate and independent audit reports.”
“US SEC Announces New PCAOB Leadership Appointments” was originally created and published by The accountanta brand owned by GlobalData.
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