Frasers Group is poised to appoint Sir Jon Thompson, former head of the Financial Reporting Council, as their new chairman.
- Sir Jon Thompson joined as a non-executive director in June, aligning with prominent figures at Frasers Group.
- The formal announcement awaits confirmation, yet city insiders suggest Thompson’s appointment is highly likely.
- Thompson concurrently serves as chair of the HS2 rail project and has a strong public sector background.
- Frasers Group’s decision emerges amidst a governance conflict involving the retail company Boohoo.
Frasers Group is reportedly in the final stages of appointing Sir Jon Thompson as its new chairman, succeeding David Daly in 2025. Sir Jon, previously the chief executive of the Financial Reporting Council (FRC), brings extensive expertise in corporate governance.
Joining the board as a non-executive director in June, Thompson is anticipated to enhance strategic oversight at Frasers Group. He is renowned for effective collaboration, having established positive relations with key figures, including Michael Murray.
Though the decision awaits finalisation by the board, insiders reveal a strong expectation of Sir Jon’s formal appointment. His diverse experience, including leadership roles at the UK tax authority and the Ministry of Defence, underscores his adeptness in strategic roles.
In addition to his role at Frasers Group, Sir Jon Thompson holds a significant position as the chair of the HS2 high-speed rail project, indicating his leadership capability in managing large-scale initiatives.
This leadership transition at Frasers Group coincides with a period of tension with Boohoo. Recently, Mike Ashley criticised Boohoo, describing them as ‘desperate’ following internal leadership changes.
The retail sector observes this governance shift while also noting Boohoo’s attempts to prevent Mike Ashley from gaining a board position, amid their financial challenges.
The expected appointment of Sir Jon Thompson signifies Frasers Group’s strategic focus on strengthening its leadership amid industry challenges.
