Frasers Group has confirmed that long-standing chair David Daly will step down from his role after eight years with the business.
He will be succeeded by Sir Jon Thompson, who joined the board in June 2024 as a non-executive director.
Thompson, whose background includes senior roles in corporate governance and major project management, will take over as chair on 1st September 2025.
His previous roles include CEO of HMRC and the Financial Reporting Council, and he also spent time as chair of HS2.
The retail giant, which owns Sports Direct, Flannels, Evans Cycles and Gieves & Hawkes, also plans to strengthen its board with two new non-executive directors.
It expects to appoint former PwC partner Andy Lyon and will make a further announcement on a second candidate in due course.
Lyon spent 24 years as a partner at PwC and the company says he brings significant financial and governance expertise.
He has led audits of several major retailers, including Next and its credit business, as well as holding senior roles within PwC’s East Midlands and national retail leadership teams.
The new appointments will succeed Daly, Ger Wright and Helen Wright, who are not seeking re-election at the firm’s forthcoming AGM.
It comes a day after the business stepped into the leisure sector for the first time, investing in Flip Out and Activate operator We Do Play.
“I would like to thank David for his outstanding leadership, guidance, and the wealth of expertise he brought to the board, which has been instrumental in helping us deliver on our elevation strategy,” said Frasers Group CEO Michael Murray.
“We wish him all the very best for the future. I would also like to thank Ger and Helen for their contributions during their time with Frasers Group.
“I’m equally delighted to announce our proposed new appointment to the board with Andy, as well as Jon’s confirmed appointment to chair, as we enter the next phase of our strategy.
“Jon’s deep experience in corporate governance and strategic leadership will be invaluable as we continue to grow as a leading global retail business.”
Thompson added: “I am very much looking forward to working alongside board colleagues, the group executive team and the wider company to continue Fraser Group’s evolution.
“I would like to acknowledge David’s significant contribution to the development of Frasers over the last eight years and thank him for his expert leadership.
“He leaves Frasers and the board well positioned to enable the future success of the elevation strategy.”
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