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08/12/2017 - Philippe Maystadt

​It is with great sadness that EFRAG acknowledges the passing away of Philippe Maystadt on 7 December.

Philippe Maystadt, former Belgian finance minister and chairman of the European Investment Bank, passed away on 7 December 2017. Philippe Maystadt played a crucial role in the development of the governance and activities of EFRAG and its success to date. With his report of October 2013 commissioned by the European Commission, the so-called Maystadt report, he designed the new governance of EFRAG bringing European Stakeholder Organisations and National Standard Setters together to strengthen Europe’s view and influence in financial reporting and notably in the IFRS standard-setting process.

Philippe Maystadt will also be remembered by the European financial reporting scene for making the European public good assessment (including financial stability, economic growth and competitiveness considerations) an important part of EFRAG’s activities.