The Board of Supervisors of the European Securities and Markets Authority (ESMA) on Thursday announced its decision to extend the terms of office for both the Chair, Steven Maijoor, and Executive Director, Verena Ross, for further five years.
The Board attributed its decision to an assessment of the work of Mr Maijoor and Ms Ross over the past five years, as well as on ESMA’s requirements for the years to come. ESMA notes that the decision to extend Steven Maijoor’s term is subject to approval by the European Parliament.
Steven Maijoor, ESMA Chair, said:
“It has been a unique experience to chair ESMA in its formative years and it is an honour to have the trust from the Board for another five-year-term. I am looking forward to further building on our work to enhance investor protection and the stability of EU financial mar-kets. I also look forward to discussing ESMA’s strategy, including its role in the Capital Markets Union, with the European Parliament.”
Verena Ross, ESMA Executive Director, commented:
“I’m honoured by the decision of the Board to entrust me with the day-to-day running of ESMA for another five years. Building the organisation has been a fantastic experience and I look forward to continuing to ensure that ESMA runs in an efficient and effective way. This will contribute to implementing the regulatory reforms in the financial markets, particularly through ESMA’s enhanced focus on fostering supervisory convergence.”
As ESMA Chair, Steven Maijoor will continue to oversee and prepare the work of the Board, ESMA’s core decision-making body made up of the heads of the EU’s national securities regulators. In her role as Executive Director, Verena Ross will remain in charge of the day-to-day management and the implementation of the annual work program of ESMA.
To view the official announcement from ESMA, click here.