Richard Sharp has announced he is to step down as chairman of the BBC after he was found to have breached the code for public appointments.
Mr Sharp was cleared of playing a direct part in arranging an £800,000 loan for the then prime minister Boris Johnson ahead of being recommended for the role.
However, an investigation ruled there would be a perceived conflict of interest and Mr Sharp chose to step aside.
The former Goldman Sachs banker had been under increasing pressure once copies of the report by Adam Heppinstall KC were distributed to members of the BBC Board.
“Being the Chairman of the BBC has been an enormous privilege. It is an incredible organisation which has never mattered more than it does today, at home in the UK and around the world. I am very proud to have worked with the uniquely talented teams across the BBC. They are the best at what they do and I shall always be their champion,” Mr Sharp said in a statement.
Tim Davie, the Director-General of the BBC, said: “On behalf of the BBC Executive, I would like to thank Richard for his service to the BBC and the drive and intellect he brought to his time as Chairman. Working with him over the last two years has been rewarding and Richard has made a significant contribution to the transformation and success of the BBC.
“The focus for all of us at the BBC is continuing the hard work to ensure we deliver for audiences, both now and in the future.”
Mr Sharp will stay on as Chairman until the end of June while the process to appoint his successor is undertaken.
A former Goldman Sachs banker and Conservative party donor, Mr Sharp was announced as the government’s choice for the BBC role in January 2021.
