31 March 2021

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The EFRAG General Assembly unanimously agreed on the new composition of the EFRAG Board at its meeting on 25 March 2021 based on the new governance structure for the EFRAG Board. The three-year terms of EFRAG Board members commence on 1st May 2021.

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Among the newly appointed members is Serge Pattyn (user seat and Vice-President), with considerable experience at EFRAG having represented EFFAS users in the EFRAG TEG. Serge Pattyn is a board member of the Belgian Association of Final Analysts (ABAF/BVFA) and a member of EFFASu2019 Commission on Financial Reporting (CFR). On behalf of EFFAS, we congratulate Mr Pattyn for his appointment at EFRAG.

Further members appointed are Olivier Scherer (accountancy profession seat); Michael Fechner (corporate sector seat); Roman Sauer (insurance sector seat); and Gerhard Prachner (AFRAC u2013 Austrian Standard Setter). The observer seat with speaking rights for European private investor organisations will be taken up by Jella Benner-Heinacher, representing Better Finance and replacing Jean Medernach.

In agreeing to the new EFRAG Board composition, the EFRAG General Assembly sought a geographical and gender balance on the Board, which represents the various constituencies of the EFRAG membership.