Frasers Group has confirmed that Sir Jon Thompson, the former head of Britain’s audit regulator, will become its new Chairman next month. He will succeed David Daly, who steps down after eight years in the role.
Thompson, who previously led the Financial Reporting Council (FRC), joined the board in June as a Non-Executive Director and had been widely expected to take over from Daly this year. He will formally assume the position on 1st September, with Daly stepping down from the board at the company’s annual general meeting (AGM) on 24th September.
The retailer also announced the planned appointment of Andy Lyon, a former PwC partner who served as audit partner for NEXT and its credit business, to its board. In addition, Frasers said it was in the final stages of appointing another Non-Executive Director to replace Ger Wright and Helen Wright, who will not seek re-election at the AGM.
Chief Executive Michael Murray said Thompson’s extensive experience in corporate governance and strategic leadership would provide strong support as the company pursues its growth as a global retail group.
Frasers, majority-owned by Mike Ashley, operates Sports Direct and also owns House of Fraser, Flannels, and Jack Wills, along with stakes in brands such as Hugo Boss.
