Richard Sharp is the Government’s preferred candidate for the BBC
Chair, the Culture Secretary announced today.
Mr Sharp, a former Chair of the Royal Academy of Arts with
a background in finance and public service, has been selected
following an open and rigorous competition and in line with the
Governance Code.
He will bring his extensive experience in global commerce,
the creative industries, and in public service to lead the BBC
Board, supporting the Director General to deliver the BBC’s
Mission and Public Purposes in the fast-changing media
landscape.
Mr Sharp will now appear before MPs on the Digital,
Culture, Media and Sport Select Committee for pre-appointment
scrutiny on 14th January 2020. He is expected to take up the post
at the end of Sir David Clementi's term in February.
Culture Secretary said:
“Richard’s leadership in the top flight of finance and
commerce, combined with his passion for culture and public
service make him the ideal person for this hugely important
role.
“He is exactly the Chair the BBC needs right now. I’m
confident he will drive forward reforms to the BBC to ensure it
impartially reflects and serves the needs of all parts of the UK,
and evolves to remain a global success that is central to British
national life in the decades ahead.”
Richard Sharp said: “The BBC is at the heart
of British cultural life and I’m honoured to be offered the
chance to help guide it through the next chapter in its
history.”
Under the terms of the BBC Royal Charter the appointment of
the BBC Chair is made by The Queen through Order in Council on
the recommendation from ministers (the Secretary of State for
Digital Culture, Media and Sport, through the Prime
Minister).
Ministers were assisted in their decision-making by an
Advisory Assessment Panel which included a departmental official
and a senior independent panel member approved by the
Commissioner for Public Appointments.
ENDS
Notes to editors
-
Richard Sharp has over 30 years of experience in the
financial sector, including commercial banking, derivatives,
fixed income, private equity and investment banking. He spent
23 years at Goldman Sachs, joining in 1984 to start and head
its European Capital Markets Group. He subsequently held a
number of senior roles, most recently as Chairman of Goldman
Sachs’ principal investment business in Europe. Prior to
this, he worked in both commercial banking and investment
banking for JP Morgan. He is also a Director of Oncimmune, a
former Chairman and an Emeritus Trustee of the Royal Academy
and a Director of International Rescue UK.
-
Mr Sharp was a member of the Bank of England's
Financial Policy Committee (FPC) from its formal inception in
2013 through to April 2019. The FPC is the entity charged by
the UK Government with the powers and the duty to ensure
financial stability in the UK. Elsewhere, Richard has headed
the primary Eurobond business, the European Investment
Banking Services, the UK investment Banking Business, the
European Private Equity and Mezzanine Business. Richard was a
Partner of Goldman Sachs and was a member of the European
Management Committee.
-
Richard is Chief Executive of DII Capital UK Adviser
LLP, and a partner in Roundshield Partners LLP and SW7 Asset
Management (UK) LLP These commercial interests have all been
placed into a blind trust due to his current role serving as
a Special Economic Advisor to the Treasury, addressing
national financial issues arising from the current
pandemic.
-
Remuneration for the new BBC Chair will be £160,000
annual salary for 3 to 4 days per week. The BBC Board
comprises fourteen members: a non-executive Chair, a
designated non-executive member for each of the Nations of
the UK (England, Northern Ireland, Scotland and Wales); five
other non-executive members and four executive members,
including the BBC Director-General. The Chair and four
non-executive members for the Nations are appointed by The
Queen-in-Council. The other non-executive members are
appointed by the BBC Board through its nominations committee.
The executive members are also appointed by the Board through
its nominations committee.
