In light of the impending retirement of outgoing chair John Turner, CEO of CoreFiling, in March, the board of directors and international steering committee of XBRL International have approved the appointment of Chethan Gorur, as chairman designate of the XBRL International Standards Board (XSB). Gorur is currently director of Interactive Data Services at governance, risk and compliance solution vendor Trintech Group.
This year seems set to be another filled with opportunities for XML-based industry standards group XBRL, as it continues with its work around corporate actions data with Swift and Depository Trust & Clearing Corporation (DTCC) and the Securities and Exchange Commission (SEC) extends its mandatory remit for US firms. However, although the data tagging standard may have gained traction in the US and a number of Asian markets, Europe remains largely wary at the moment. It will therefore fall to Gorur to help lead the push into these markets once he fully assumes the role of chair at the end of March 2010.
“As the global adoption of XBRL accelerates, the charter of the XBRL Standards Board, which is defining, updating and maintaining XBRL technical specifications, takes increasing importance,” explains Gorur. He intends to lead the group with what he calls a collaborative and market-based approach.
In the meantime and in addition to his XBRL role, he will continue to head up the product leadership team at Trintech, including being responsible for strategy, product marketing and development efforts for Trintech’s Unity Xtensible Financial Reporting (XFR) solution, which includes embedded support for the report tagging and output of financial statements with XBRL.
Trintech has been on the XBRL bandwagon for a while and, in July last year, the vendor launched a new XBRL compliant financial reporting solution. The solution, Unity Xtensible Financial Reporting (XFR), provides users with embedded support for the tagging and output of XBRL compliant financial statements.
Prior to his current role at Trintech, Gorur was a member of the XBRL leadership team at Microsoft for more than five years, where he was instrumental in crafting and executing on the XBRL product strategy. He was a key contributor to Microsoft Investor Central, and led the Microsoft product team responsible for incubating a new software as a service (SaaS) based XBRL product line. Gorur has held product leadership positions at i2 technologies, IBM and One Network.