The European Financial Reporting Advisory Group (EFRAG) revealed that Kerstin Lopatta has stepped down as EFRAG Sustainability Reporting Board Chair, only 5 months into her 3-year term.
While EFRAG did not respond to a request for comment around the circumstances of Lopatta’s departure, media reports indicated disagreements over governance as a key factor. Georg Lanfermann, President of the Accounting Standards Committee of Germany (ASCG) said that the organization “deeply regretted” the resignation, and added that “the circumstances surrounding Kerstin Lopatta’s resignation should be thoroughly reviewed by EFRAG and taken into account as part of a wider governance reform, which is urgently needed.”
EFRAG’s mission is to serve the European public interest in both financial and sustainability reporting by developing and promoting European views in the field of corporate reporting. The EFRAG Sustainability Reporting Board (SRB) is responsible for all sustainability reporting positions of the organization. The EFRAG SRB is led by its Chair, who is nominated by the European Commission after consultation with the European Parliament and the Council.
Lopatta was announced as the new Chair of the SRB in April 2026, after serving on the board since 2022.
EFRAG announced that it has appointed Kristian Koktvedgaard as Acting Chair of the SRB until the appointment of a new Chair. Koktvedgaard has been a member of the EFRAG SRB since its establishment in 2022, is head of VAT, auditing, accounting and reporting with the Confederation of Danish Industries, and also serves as chair of the BusinessEurope Accounting Sounding Board.
In a statement announcing the resignation and appointment, EFRAG said:
“EFRAG thanks Kerstin Lopatta for her significant contribution to EFRAG’s sustainability reporting work and her commitment to the development of European sustainability reporting, as a result of her involvement in leading positions in the EFRAG SRB since 2022.”
