FRC names interim chair

Keith Skeoch has been appointed as interim chair of the Financial Reporting Council (FRC), following the sudden departure of the former postholder, Simon Dingemans, in May this year

Skeoch - who was previously a non-executive director at the FRC - will take on the role while a recruitment round is carried out to find a permanent replacement for Dingmans.

Dingemans who was CFO of GlaxoSmithKline and previously a managing director and partner at Goldman Sachs, quit the post  of FRC chair at a critical point for the regulator, which is set to transition to its new regulator status as the Audit, Reporting and Governance Authority (ARGA).

He succeeded Sir Win Bischoff, who held the post for six years, but resigned after just eight months, saying his other responsibilities were in conflict with the part time role.

Skeoch will serve as interim chair from 12 October for a period of up to six months.

He is currently chair of the Investment Association, and a member of the Takeover Panel. He was formerly CEO of Standard Life Aberdeen plc and CEO of its asset management business, Aberdeen Standard Investments.

Business Secretary Alok Sharma, who made the appointment,  said: ‘Keith has a wealth of knowledge and experience in his field, and I am delighted to appoint him as interim chair of the FRC while a permanent replacement is sought.’

Skeoch said: ‘I am pleased to be re-joining the FRC board as interim chair and am looking forward to working with Sir Jon Thompson, the board and all of the FRC as it enters the next phase of its transformation programme to deliver its ambitious reform agenda.’

A permanent chair will be recruited and announced in due course.

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