The IFRS Foundation, which is responsible for the governance and oversight of the International Accounting Standards Board (IASB), has announced a clutch of trustee appointments.

Joji Okada is appointed as a trustee with immediate effect and will serve until 31 December 2015, when he will be eligible to stand for a further three-year term. He is chief financial officer, senior executive managing officer and representative director of Mitsui & Company Ltd, one of the largest trading companies in Japan with 150 offices across 67 countries. His appointment follows the retirement of Noriaki Shimazaki, who stepped down in June this year.

Three current trustees have been approved for re-appointment for a second term: Duck-Koo Chung, Dick Sluimers and Antonio Zoido.

Robert Glauber, chairman of the trustees' nominating committee, said: 'I am delighted to welcome Joji Okada as a trustee of the IFRS Foundation. Joji is a highly respected member of the Japanese business community. His wealth of experience will benefit greatly our efforts to support Japan and other leading Asian economies in their transitional arrangements to IFRSs.'