Politics

Press launch: Authorities proclaims most popular candidate for BBC presidency

Mr. Sharp, a past chairman of the Royal Academy of Arts with a background in finance and civil service, was selected after an open and rigorous competition and in accordance with the Code of Governance.

He will bring his extensive experience in global commerce, creative industries and public services to lead the BBC Board of Directors and assist the Director General in fulfilling the BBC’s mission and public cause in the rapidly changing media landscape.

Mr Sharp will now appear before the members of the Special Committee on Digital, Culture, Media and Sport on January 14, 2021 for consideration prior to the appointment. He is expected to take office at the end of Sir David Clementis’ term in February.

Culture Secretary Oliver Dowden said:

Richard’s leadership position in the top tier of finance and commerce, combined with his passion for culture and public service, make him the ideal person for this hugely important role.

He’s exactly the chairman the BBC needs right now. I am confident that he will press ahead with reforms to the BBC to ensure that it reflects and serves the needs of all parts of the UK with an open mind and emerges as a global success that will be central to UK national life for decades to come.

Mr Sharp said: The BBC is at the heart of British cultural life and I am honored to have the chance to take you through the next chapter in its history.

Under the terms of the BBC Royal Charter, the Queen’s appointment of the BBC Chair is by order of the Council on the recommendation of Ministers (the Secretary of State for Digital Culture, Media and Sport, by the Prime Minister).

The Ministers were assisted in their decision-making by an advisory evaluation panel composed of a department official and a senior independent panel member approved by the Commissioner for Public Appointments.

END

Notes for 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 and joined in 1984 to found and run the European Capital Markets Group. He then held a number of senior positions, most recently as Chairman of Goldman Sachs’ main investment business in Europe. Prior to that, he worked in both commercial and investment banking for JP Morgan. He is also the director of Oncimmune, former chairman and trustee emeritus of the Royal Academy, and director of International Rescue UK.

  • Mr. Sharp was a member of the Bank of England’s Financial Policy Committee (FPC) from its formal formation in 2013 to April 2019. The FPC is the body entrusted by the UK Government with the power and duty to maintain financial stability in the UK. Elsewhere, Richard led the primary Eurobond business, European Investment Banking Services, UK investment banking business, European private equity and mezzanine businesses. Richard was a partner at Goldman Sachs and a member of the European Management Committee.

  • Richard is Chief Executive of DII Capital UK Adviser LLP and a partner of Roundshield Partners LLP and SW7 Asset Management (UK) LLP. These commercial interests have all been blindly trusted due to his current role as Treasury Department’s Special Economic Advisor handling national financial issues related to the current pandemic.

  • This appointment process was conducted in accordance with the Code of Governance for Public Appointments.

  • The remuneration for the new BBC chair is 160,000 annual salary for 3 to 4 days per week. The BBC Board of Directors consists of fourteen members: a non-executive chairman; a non-executive member-designate for each of the nations of the United Kingdom (England, Northern Ireland, Scotland and Wales); five other non-executive members and four executive members, including the BBC Director General. The chairman and four non-executive members of the nations are appointed by the Queen-in-Council. The other non-executive members are appointed by the BBC Board through its Nomination Committee. The executive members are also ap

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