Woods will take over as chair of the International Accounting Standards Board (IASB) for a five-year term from 1 October, succeeding Andreas Barckow, who stepped down in June after his two-term tenure.

The IASB chair appointment is part of a major leadership change at the standard setter and IFRS Foundation, triggered by various senior officeholders completing their terms and leaving the organsiation, and was part of a ‘planned succession arrangements’.

This has resulted in three new senior leaders at the organisations, with Steven Maijoor appointed as chair of the IFRS Foundation Trustees, effective 1 January 2027, replacing outgoing Erkki Liikanen, and former KPMG partner, Laura Morzani, replacing Michel Madelain as managing director of the IFRS Foundation next month.