As president-elect Barack Obama starts assembling his minions, we are seeing the exodus of George Bush’s. The SEC announced today the departure of corporation finance director John White, who will leave the agency at the end of the year.
After chairman Chris Cox, White is the SEC figure we followed most closely. He had his prints all over so many investor-focused initiatives including e-proxy, Sarbanes-Oxley guidance and XBRL (sorry, ‘interactive data’). We’ll remember him fondly for his speech at a 2007 proxy disclosure conference, ‘Where’s the analysis?,’ a General Patton-like ultimatum to the US filers to improve their compensation disclosure. We see it working.
White rejoins Cravath Swaine & Moore, where he advises companies on governance and reporting, among other things.