Revolving Door? PCAOB’s Finance Chief Steps Down

Tom Hohman is the second executive to leave the audit-firm overseer in the past three months.
Sarah JohnsonOctober 29, 2007

Tom Hohman, the Public Company Accounting Oversight Board’s CFO, has resigned after four years with the fledging organization to become the CFO of a private company based in Maryland, the PCAOB announced on Monday.

His departure comes nearly three months after the PCAOB lost another of its executives to the private sector. Ray Schmidt, who resigned in August, had been chief information officer since the board’s inception five years ago.

The board itself is also in the middle of a personnel change. Kayla Gillan, a founding member of the PCAOB, will leave by the end of January after five years.

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For his part, Hohman said he will miss his teams he’s overseen at the nonprofit, non-governmental organization since July 2004. “I joined the PCAOB because I was attracted to the challenges and opportunities associated with a start-up organization,” he said.

PCAOB chairman Mark Olson credited Hohman with developing the organization’s infrastructure and helping it “put in place sound financial systems and internal controls.”

Before joining the PCAOB, Hohman was the CFO of technology companies, including a start-up worth $60 million in revenue and a venture capital firm with $200 million in invested capital. He began his career as an auditor with Ernst & Young.