Washington, DC, Oct. 3, 2006
Paul Schneider, chief administrative officer of the Public Company Accounting Oversight Board since 2003, has informed the Board that he intends to leave the PCAOB at the end of October.
Mr. Schneider joined the PCAOB in January 2003 as interim chief administrative officer, taking responsibility for a variety of start-up related activities. He was named chief administrative officer in April 2003.
“Starting an organization from scratch is always exciting and often rewarding, but being involved with the start-up of the PCAOB has been an honor,” Mr. Schneider said. “The Board has become an effective regulator and standards-setter, and I am proud of what we have been able to accomplish.”
PCAOB Chairman Mark Olson said, “Paul was one of the original officers of the PCAOB and helped build the organization—almost literally—from the ground up. He joined the PCAOB in the days before there were walls on the 8th floor of our DC headquarters or chairs for our guests.
“Paul was instrumental in everything from leading the selection of key personnel to head our administrative offices, including information technology, finance, human resources, and facilities management, to managing the budget and design aspects of our benefit plans,” Chairman Olson said. “We are grateful for all of Paul’s contributions and wish him every success going forward.”
Prior to joining the PCAOB, Mr. Schneider was the managing principal of Vector Recovery Group LLC, a turnaround management firm that provided restructuring and crisis management services. Mr. Schneider spent 14 years with The Acacia Group, a diversified financial services company, where he served as chief financial officer and chief investment officer and was instrumental in developing investment and operating strategy.
Prior to Acacia, Mr. Schneider was engaged in turnaround management assignments and business consulting. He began his career in public accounting at Arthur Andersen & Company. Mr. Schneider has served on numerous boards, both corporate and voluntary. He is a certified public accountant in Florida and a chartered financial analyst.