PCAOB Announces Resignation of CFO Tom Hohman

Washington, DC, Oct. 29, 2007

The PCAOB announced today that Tom Hohman has informed the Board that he is resigning from his position as Chief Financial Officer to become a CFO of a private company.

Mr. Hohman joined the PCAOB in July 2003. He is the organization’s first CFO and one of the PCAOB’s founding officers. He brought more than 17 years experience in finance, accounting, and business operations to his role at the PCAOB.

"I joined the PCAOB because I was attracted to the challenges and opportunities associated with a start-up organization," Mr. Hohman said. "Others have said it before about the PCAOB, but I don’t think I’ve ever seen such a high caliber group of professionals assembled in one place. I’ve been privileged to work with an outstanding workforce. I’ll especially miss the dedicated, able group in our Finance department."

For much the same reasons, he is leaving the PCAOB to pursue another entrepreneurial opportunity with a private company in Maryland.

"Tom was integral in developing a PCAOB infrastructure, helping the organization put in place sound financial systems and internal controls," said PCAOB Chairman Mark W. Olson. "I know he will play just as valuable a role in his new position."

Prior to joining the PCAOB, Mr. Hohman served as CFO at a number of technology companies, ranging from start-up to $60 million in revenue, and at a venture capital firm with $200 million in invested capital. He began his career as an auditor with Ernst & Young LLP. He received a BS in Accounting from the University of Richmond and an MBA from George Washington University. He is a Certified Public Accountant.