Frasers Group Appoints Jon Thompson Chairman, Adds PwC Partner to Board

Frasers Group announced significant boardroom changes with Sir Jon Thompson appointed as the new chairman effective September 1, succeeding David Daly who is stepping down after eight years. Thompson, a former head of the UK's Financial Reporting Council, brings extensive expertise in corporate governance and strategic leadership, supporting Frasers' global growth strategy. The company also appointed Andy Lyon, a former PwC partner and audit partner for Next, as a non-executive director, with plans to appoint another non-executive director following the departure of David Daly, Ger Wright, and Helen Wright who are not seeking re-election at the upcoming AGM. CEO Michael Murray praised Daly's leadership and expressed confidence in the new appointments to advance the company's Elevation Strategy. These changes reflect Frasers Group's ongoing efforts to strengthen its board as it continues to expand its retail operations, which include Sports Direct, House of Fraser, Flannels, and Jack Wills. Murray is also expected to miss performance targets tied to share price bonuses this year.