Boardroom rearrangement results in appointment of fresh chair at Frasers Group
In a significant move, Frasers Group has announced a series of changes in its boardroom, including the appointment of Jon Thompson as the new chairman and the arrival of Andy Lyon as a non-executive director. The changes come as David Daly steps down after eight years as chairman of the company.
Jon Thompson, who joined Frasers Group's board as a non-executive director in June 2024, will succeed David Daly as chairman on September 1, 2024. Thompson's promotion is an important step in supporting Frasers' long-term strategy to strengthen its global presence.
Andy Lyon, a renowned expert in retail and consumer markets, is joining Frasers Group's board as a non-executive director. Lyon, who previously served as a senior audit partner at PwC, led the audits of several large retailers, including Next.
The reshuffle of Frasers' boardroom is part of the preparations for the upcoming AGM, scheduled for September 24. Ger Wright and Helen Wright are not seeking re-election at the AGM, and two new directors are set to join the board, with an additional candidate expected to be announced.
The departure of David Daly marks the end of an era for Frasers Group. Daly, who has been the chairman for eight years, has made a significant contribution to the company's development over the last eight years. In a statement, Jon Thompson acknowledged Daly's valuable service and thanked him for his leadership.
The new CEO of Frasers Group, succeeding Jon Thompson, is Michael Murray. Murray's appointment is effective from September 1, 2024.
The changes in Frasers' boardroom are part of the company's efforts to adapt and grow in the ever-changing retail landscape. Frasers Group aims to leverage the expertise and experience of its new board members to drive its long-term strategy and achieve its goals.
The AGM of Frasters Group is scheduled for September 24, when the new board members will be formally introduced and the company's strategy for the future will be discussed. The event promises to be a significant milestone in the company's history and a chance for shareholders to engage with the new leadership team.
