Statement on appointment of Sir Jon Thompson as Chair of HS2 from FRC Chair Sir Jan du Plessis
News types: Generic Announcement
Published: 9 February 2023
It was announced today that Sir Jon Thompson, Chief Executive of the FRC, has been appointed Chair of HS2, effective immediately. In assuming the role, he will be standing down as CEO of the FRC at the end of his six months’ notice period. During this period Jon will be serving as CEO of the FRC on a part-time basis. While I am disappointed Jon is leaving us, I have enjoyed working with him and look forward to his continued leadership of the organisation over the next six months.
When he was appointed as CEO in 2019, he made clear his determination to transform the FRC into its new more impactful body. Under his leadership the FRC has become the modern, fit for purpose regulator Sir John Kingman envisaged, ready for its new powers and responsibilities when ARGA is established. The FRC’s new CEO will inherit a strong organisation ready for its next chapter. We are grateful for Jon’s leadership, and I look forward to working with him through his notice period.
Sarah Rapson has been appointed on an interim basis as Deputy CEO to support Jon, the Board and Exco during this period. Sarah is a highly experienced leader who has senior level financial sector and Whitehall expertise, and vast experience of change programmes in regulatory and government organisations. I have no doubt that she will continue to help drive the organisation forward through this transition period.
This remains an important stage in the development of the FRC and its capabilities as an impactful and influential regulator supporting Britain’s place as a trusted, global financial centre. There is still more to do to ensure that recent momentum is maintained to deliver the full transformation to ARGA, including the passing of the requisite legislation. I look forward to working with the Department of Business and Trade, who will immediately start the recruitment process for the FRC’s next CEO.
When he was appointed as CEO in 2019, he made clear his determination to transform the FRC into its new more impactful body. Under his leadership the FRC has become the modern, fit for purpose regulator Sir John Kingman envisaged, ready for its new powers and responsibilities when ARGA is established. The FRC’s new CEO will inherit a strong organisation ready for its next chapter. We are grateful for Jon’s leadership, and I look forward to working with him through his notice period.
Sarah Rapson has been appointed on an interim basis as Deputy CEO to support Jon, the Board and Exco during this period. Sarah is a highly experienced leader who has senior level financial sector and Whitehall expertise, and vast experience of change programmes in regulatory and government organisations. I have no doubt that she will continue to help drive the organisation forward through this transition period.
This remains an important stage in the development of the FRC and its capabilities as an impactful and influential regulator supporting Britain’s place as a trusted, global financial centre. There is still more to do to ensure that recent momentum is maintained to deliver the full transformation to ARGA, including the passing of the requisite legislation. I look forward to working with the Department of Business and Trade, who will immediately start the recruitment process for the FRC’s next CEO.
Sir Jan du Plessis
Chair of the Financial Reporting Council