Statement on the Securities and Exchange Commission Appointment of Jeanette M. Franzel to the PCAOB

The Public Company Accounting Oversight Board welcomes the appointment to the Board of Jeanette M. Franzel, currently a Managing Director of the General Accounting Office. Jeanette brings to the PCAOB a distinguished public service career and has long participated in our Standing Advisory Group through GAO's role as an observer. She will significantly contribute to our efforts to carry out the Board’s mission.

"Jeanette’s extensive experience in the field of securities regulation and auditing standards will enable her to hit the ground running," said PCAOB Chairman James R. Doty. "I am delighted to have her join the Board."

The Board and the staff of the PCAOB want to take this opportunity to thank founding Board Member and former Acting Chairman Daniel L. Goelzer for his outstanding service to the PCAOB and the investing community. Dan helped launch the PCAOB in 2002. As Acting Chairman, he shepherded the organization through a challenge to its constitutionality, while ensuring that the Board continued to carry out its mission to protect investors and promote public confidence in audited financial reporting. His influence is felt throughout the organization, and investors owe him a debt of gratitude.