Sir David Tweedie, head of the International Accounting Standards Board (IASB), is retiring after ten years and before realizing his goal of converging IASB and America’s Financial Accounting Standards Board (FASB)rules. Hans Hoogervorst, a Dutch financial regulator, will assume the IASB post July 1, according to The Economist.

The boards had set a June deadline to finalize the convergence before Tweedie retired, the article notes. However, in April the boards announced a postponement on four issues: revenue recognition, lease accounting, insurance contracts and which financial instruments to record at market value, The Economist reported.

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