FRC reveals new leadership lineup

The Financial Reporting Council has revealed its new leadership team of Simon Dingemans and Sir Jon Thompson have taken up their respective leadership roles as chair and chief executive. They join the FRC at a “pivotal stage” as the transition to a new regulator - the Audit, Reporting and Governance Authority (ARGA) - progresses, following Sir John Kingman’s independent review. Simon Dingemans was previously chief financial officer of GlaxoSmithKline and Sir Jon Thompson was previously chief executive of HMRC. They replace Sir Win Bischoff who steps down as chair after six years in post and Stephen Haddrill who steps down as chief executive after nine years leading the FRC. Dingemans said: “I am delighted to be joining the FRC at this critical juncture as we prepare to establish the ARGA with a clear mandate to be a very different and more effective regulator. “The UK is rightly considered one of the world’s pre-eminent financial centres and the FRC and its successor, the ARGA, has a key role to play in setting and upholding high standards for audit, reporting, governance and stewardship in order to protect the interests of investors and other end-users of financial information.” Thompson added: “I am pleased to be joining the FRC as it begins the transition to a new regulator with stronger powers to hold companies, their directors, advisers and shareholders to account. “I am also committed to building on the governance and stewardship standards the FRC has helped to champion to ensure businesses reflect modern-day society, are diverse and inclusive, and are maximising the future pipeline of talent.”