Michael H. Sutton
Michael H. Sutton | |
|---|---|
| Occupation(s) | Accountant, corporate director, consultant |
| Years active | 1984–present |
| Known for | Director of Krispy Kreme Corporation; Chief Accountant at U.S. Securities and Exchange Commission; Board member of American International Group |
Michael H. Sutton serves as a director for Krispy Kreme Corporation. Between 1995 and 1998, he held the position of Chief Accountant at the U.S. Securities and Exchange Commission (SEC) and was a board member of American International Group from 2005 until 2009.
Career
In 1984, Sutton acted as the lead partner overseeing client services for Haskins & Sells during their engagement with General Motors and later became Partner in Charge of Accounting Research at the firm's New York Executive Office. After a decade, he advanced to senior partner, taking on roles such as Engagement Partner and Accounting and Auditing Coordinator for the Atlanta branch.
During 1989, Sutton played a key role in the integration process of Deloitte Haskins & Sells with Touche Ross & Co., subsequently assuming the role of National Director for Accounting and Auditing Professional Practice following the merger.
While at the SEC in the mid-1990s, Sutton was the chief advisor on accounting and auditing issues, influencing policies related to financial accounting and reporting by publicly traded companies. He spearheaded the SEC’s initiative to oversee international accounting standards, engaged in activities with IOSCO, and represented IOSCO as an observer to the International Accounting Standards Committee. In 1997, he authored the SEC’s report to Congress addressing the harmonization of accounting standards for international filings.
Sutton declared his intention to retire from the SEC in 1997 and officially departed in 1998, subsequently becoming a special full-time consultant to the Financial Accounting Standards Board. Beginning in April 1999, he operated as an independent consultant and senior advisor to Deloitte Touche Tohmatsu and Deloitte & Touche USA, focusing on accounting and capital market regulations.
In 2004, Sutton joined Allegheny Energy, Inc.’s Board of Directors, where he served until 2011. From 2005 through 2009, he was also a board member at American International Group, Inc., stepping down amid regulatory pressures.
Since October 2004, Sutton has held a directorship at Krispy Kreme Doughnuts, where he acts as Co-Chair of a Special Committee responsible for conducting an independent investigation and participates as a member of the Audit Committee.
Other affiliations
Sutton has provided his expertise as a special full-time consultant to the Financial Accounting Standards Board. He earned both BS and MS degrees in accounting from the University of Tennessee.