SAN FRANCISCO/LONDON, Oct. 27, 2021 (GLOBE NEWSWIRE) -- This release has been revised to correct the following errors: Koushik Chatterjee is Executive Director and CFO of Tata Steel, not Group CFO; Mr. Chatterjee was appointed to his current position in 2004, not 2008; and he has provided stewardship in corporate finance involving US $60 billion of capital raising, not US $70 billion.
The Value Reporting Foundation on October 26, 2021 announced the appointment of five new directors to its governing board. Representing entities from Japan, India, Netherlands and the United States, the new directors increase regional and preparer perspectives on the governing board.
The Value Reporting Foundation has a structure that includes a governing board of directors (the "Value Reporting Foundation Board") and two independent boards that govern the content of the <IR> Framework and SASB Standards. The SASB Standards Board develops, issues and maintains the SASB Standards. The role of the International Integrated Reporting Framework Board is to recommend for approval any revision, modification or other update to the International Integrated Reporting Framework.
The new directors of the Value Reporting Foundation governing board join amidst a time of growing corporate and investor support for the inclusion of the <IR> Framework and SASB Standards in a comprehensive corporate reporting system. Japanese asset managers Mitsubishi UFJ Trust and Banking Corporation (MUFG) and Asset Management One have recently joined the SASB Standards Investor Advisory Group, comprised of 61 international institutional investors representing >$51 trillion assets under management.
The new directors of the Value Reporting Foundation are:
Joe Allanson, Executive Vice President, Finance ESG, salesforce (San Francisco, USA)
Joe Allanson joined salesforce in August 2003, which was four years after salesforce was founded in 1999. He served as their Chief Accounting Officer and Corporate Controller since July 2011, and now serves as Executive Vice President, Finance ESG. Prior to the expansion of his responsibilities to include the role of the Chief Accounting Officer, he served as the company’s Corporate Controller from July 2007 to July 2011. Mr. Allanson oversees Salesforce’s Environmental, Social and Governance external reporting in its 10-K and Proxy, as well as the preparation of its annual Stakeholder Impact Reports. Mr. Allanson also serves on the Board of Trustees of the University of San Francisco.
Koushik Chatterjee, Executive Director and CFO, Tata Steel (Mumbai, India)
Mr. Chatterjee joined Tata Steel limited in 1995 and took over the responsibility of Chief Financial Officer of the company in 2004, joining its Board as Executive Director in 2012. During the last 15 years he has provided stewardship in the areas of financial strategy, performance management and corporate finance involving US $60 billion of capital raising, US $17 billion of acquisitions and complex negotiations for structural de-risking of a £16 billion pension scheme. He also oversees the risk management, reporting and control, investor relations and taxation functions. He has been a member of several advisory committees of the Securities Exchange Board of India and was also the member of the Global Preparers Forum, the advisory body to the International Accounting Standards Board, London. He is a member of the UNGC Global CFO Taskforce on SDGs, the Task Force on Nature-Related Financial Disclosures and the UK Voluntary Carbon Markets Forum steering committee.
Tetsuo Kitagawa, Emeritus Professor, Aoyama Gakuin University Professor (Tokyo, Japan)
Tetsuo Kitagawa is the representative director of WICI Japan and the “ESG Information Disclosure Study Group,” which consists of major Japanese companies, institutional investors, and four major audit firms. He is also the Chairman of the judging committee of the "Integrated Reporting Award" sponsored by Nikkei Inc. and "IR Excellent Companies" at the Japan IR Association. He is also currently an outside director of Mitsubishi UFJ Trust and Banking and a specially appointed professor at Tokyo Metropolitan University. Prior to becoming a university professor, he worked in the research department of institutional investors such as JP Morgan Asset Management, where he analyzed global pharmaceutical companies for over 25 years.
Robert Swaak, CEO, ABN AMRO (Amsterdam, Netherlands)
Robert Swaak was appointed as Chief Executive Officer (CEO) and Chairman of the Executive Board of ABN AMRO Bank N.V. effective 22 April 2020. As CEO he is also responsible for Audit, Legal & Corporate Office, Strategy & Sustainability and Brand, Marketing & Communications. Previously, he held various positions at PricewaterhouseCoopers (Amsterdam, the Netherlands) where he started in 1988 and became partner in 1998. From 2006 until 2013 he was member of the Management Board of PwC the Netherlands (CFO, COO, CHRO), and served as Chairman of the Management Board from 2008 onwards. Subsequently, from 2013 until 2017 he was Global Vice Chairman/Global Clients and Industries leader at PricewaterhouseCoopers International. In 2017 he became Global Relationship Partner and continued his responsibilities as Lead Audit Partner in the Financial Service practice of PwC the Netherlands.
Takatoshi Yamamoto, Independent Director, Hitachi (Tokyo, Japan) and Murata Manufacturing (Kyoto, Japan)
Takatoshi Yamamoto is currently an external director of Hitachi Ltd. and Murata Manufacturing Co., Ltd. He had been a corporate auditor of Fuji Heavy Industries Ltd (current SUBARU) since June 2012 and a corporate auditor of Tokyo Electron Ltd. since June 2013. He was Managing Director and Advisor of Casio Computer Co. Ltd from 2009 to 2012. Prior to joining a manufacturing company in 2009, he had 34 years of experience in the securities and investment banking industry. He was a Vice Chairman and Managing Director of UBS Securities Japan Ltd. and moved from Morgan Stanley in July 2005. He was a securities analyst for 28 years and an investment banker for six years, mainly focusing on the technology sector and companies.
To see the full list of directors, please click here.
About the Value Reporting Foundation
The Value Reporting Foundation is a global nonprofit organization that offers a comprehensive suite of resources designed to help businesses and investors develop a shared understanding of enterprise value—how it is created, preserved or eroded over time. The resources — including Integrated Thinking Principles, the Integrated Reporting Framework and SASB Standards — can be used alone or in combination, depending on business needs. These tools, already adopted in over 70 countries, comprise the 21st century market infrastructure needed to develop, manage and communicate strategy that creates long-term value and drives improved performance. To learn more, visit www.valuereportingfoundation.org.
