Yesterday, the PCAOB announced that that Demetrios (Jim) Logothetis was sworn in as Chairman of the Board, and Dr. Mark Calabria and Steven Laughton were sworn in as Board Members. The swearing-in ceremony took place at the SEC. Meredith highlighted the appointment of the new PCAOB Chairman and Board Members (along with their backgrounds) last week. The PCAOB’s announcement of the swearing-in ceremony states:

“I am deeply honored to have been appointed to lead the PCAOB, and I am grateful to SEC Chairman Atkins and to Commissioners Peirce and Uyeda for their faith in me to serve in this important role,” said Chairman Logothetis. “Independent oversight of auditors is a critical pillar of the investor confidence that powers the U.S. capital markets, and I look forward to partnering with the SEC, my fellow Board Members, and the PCAOB’s dedicated staff to fulfill our organization’s statutory responsibilities efficiently and effectively.”

Chairman Logothetis was appointed to a term that expires on October 24, 2030. Board Member Calabria’s term expires on October 24, 2027, and Board Member Laughton’s term expires on October 24, 2026.

The SEC has also appointed Kyle Hauptman to the PCAOB, and announced that George R. Botic (former acting Chairman of the PCAOB) will continue his service as a Board Member for a term that expires on October 24, 2028.

As John recently noted, these gentlemen will find their positions to be significantly less lucrative than in the past, with the SEC slashing the compensation of the PCAOB’s Chairman and its other Board Members by 52% and 42%, respectively, in the 2026 PCAOB budget. For more on the potential impact of that decision, be sure to check out Dan Goelzer’s analysis in The Audit Blog.

– Dave Lynn