The Financial Accounting Standards Board (FASB) announced that member Daryl E. Buck plans to retire at the end of this year. First appointed in 2011, Buck's expertise is primarily in private industry, having spent 18 years as a vice president and CFO of a chain of retail grocery stores. This private-sector experience was leveraged most significantly in the formation and oversight of the Private Company Council (PCC). Buck will leave while still in his second term. 

 

Buck was a member of the 2010 Blue Ribbon Panel on Standard-setting for Private Companies, a joint project of the FAF, NASBA and AICPA. Later, when the PCC was launched in 2012, Buck served as its liaison to FASB, which evaluates and approves the council's suggestions. 

 

“For the past five years, I’ve had the privilege of working closely and cooperatively with my talented and dedicated colleagues at the FASB—both Board members and staff. This has been a wonderful experience...While I will look back fondly at my years with the FASB, I also look forward to spending more time with my growing extended family,” said Buck. 

 

The Financial Accounting Foundation, which oversees the FASB, is currently planning its search for his replacement.