Sir Jan du Plessis is to step down from the Financial Reporting Council (FRC) at the end of September having served as Chair for the last four years.
He will continue to lead the Board until the end of September while his successor is found.
Sir du Plessis spent close to two decades chairing major public companies, including BT Group, Rio Tinto, SABMiller, RHM and British American Tobacco. He has also held senior leadership and board roles at Richemont, Marks & Spencer and Lloyds Banking Group.
He intends to retire.
Richard Moriarty, CEO of the Financial Reporting Council, said: “Sir Jan’s leadership, clarity of purpose and commitment to the public interest have shaped the FRC during one of the most important periods in its history. His extensive experience chairing some of the UK’s most significant public companies has brought real depth and insight to the organisation’s important work.
“As CEO I have especially welcomed Jan’s focus on common sense and proportionate regulation to ensure the FRC’s work contributes to help corporate Britain thrive.”
Recruitment for the next Chair of the FRC will be led by the Department for Business and Trade in consultation with the current FRC Board.
The FRC regulates auditors, accountants and actuaries, as well as setting the UK’s Corporate Governance and Stewardship Codes.