Former Goldman Sachs banker Richard Sharp to be the next chairman of the BBC. Current BBC chairman, Sir David Clementi, will step down from the role in February.
Culture Secretary Oliver Dowden said Sharp was “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,” he said.
Sharp is a former donor to the Conservative Party and worked with finance minister Rishi Sunak at Goldman Sachs, according to a BBC news report. He has recently been advising Sunak.
The chairman, who is officially appointed by the queen on the recommendation of the government, is responsible for upholding and protecting the independence of the BBC, which is funded by a licence fee paid by every TV-watching household.
“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,” Sharp said.
He will join the broadcaster next month as it faces some of the biggest threats to its future since it was founded 98 years ago.
“The committee previously expressed some concerns over the appointments process, calling for it to be fair and transparent,” Chair Julian Knight said in a statement.
Sharp will be paid 160,000 pounds ($220,000) for working three to four days a week, the government said.
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