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XBRL INTERNATIONAL APPOINTS TONY FRAGNITO AS CEO

 

France Becomes Newest of 22 XBRL Jurisdictions Globally

 

MUNICH, GERMANY, JUNE 4, 2007 – XBRL International, Inc. (www.xbrl.org) announced today during its 15th XBRL International Conference in Munich that Tony Fragnito, CPA, has been appointed CEO of XBRL International.  In this newly created position, Mr. Fragnito will lead the organization’s efforts around the world to promote global adoption of XBRL and interactive data for business reporting.

 

“An important part of my focus will be to drive adoption of XBRL in each of our 22 current jurisdictions, ensure the standardization of the technology and educate investors, analysts, regulators and companies about the benefits of XBRL,” said Tony Fragnito, CPA, CEO of XBRL International.  “This will become increasingly important as International Financial Reporting Standards (IFRS) are adopted by more countries, providing a consistent foundation on which investors around the world can access financial information through XBRL-enabled interactive data technologies.”  

 

Mr. Fragnito comes to XBRL International from the Federation for American Societies for Experimental Biology (FASEB) based in Bethesda, Maryland, where he served as Deputy Director and CFO.  He is also a CPA licensed in the Commonwealth of Virginia.

 

“Mr. Fragnito has the management background, association experience and leadership qualities necessary to help lead XBRL International into the next stage of its evolution,” said Michael Ohata, Chair of XBRL International, Inc. and Senior Director of Finance Operations for Microsoft Corporation. “We are excited he has joined the organization and look forward to his guidance in helping us meet our future goals.”

 

In related news, XBRL International also announced that France has become the latest XBRL jurisdiction to join the global consortium.

 

“For the past two years, XBRL France has played an active role in the success of  key European XBRL projects centered around the Basel II and IFRS initiatives within the framework of the Committee of European Banking Supervisors (CEBS),” said Jean-Luc Menda, Deputy Director, Commission Bancaire, Banque de France and member of the XBRL France Steering Committee.  “We are excited to become an official jurisdiction and look forward to implementing XBRL interactive data solutions for the French corporate sector.”

 

XBRL International now includes 22 jurisdictions in Europe, Asia, Middle East, North and South America and Australia.

 

About XBRL International, Inc.

XBRL International, Inc (XII) is a global consortium using a cooperative effort to create a common interactive data solution based on XML. XBRL is being developed and promoted by an international not-for-profit consortium of more than 500 major international companies, organizations and government agencies.  For more information about XBRL, please visit www.xbrl.org.