BBC chairman Richard Sharp has resigned following the publication of a report which found that he failed to fully disclose details of a loan involving Boris Johnson.
Sharp took up the position in February 2021, having been appointed by then-Prime Minister Johnson on the recommendation of a panel of MPs, who interviewed him for the post.
Rules dictate that as part of the process, Sharp was required to disclose any potential conflicts of interest as well as anything which could cause embarrassment or undermine the appointment.
The report by top barrister Adam Heppinstall KC found that Sharp told Johnson that he was keen on the role before applying for the position, but more damningly, that he introduced Johnson to a millionaire friend - coincidentally, a distant cousin of Johnson - who went on to provide him with a loan facility of up to £800,000.
In a statement announcing his resignation, Sharp said: "Mr Heppinstall's view is that while I did breach the governance code for public appointments, he states very clearly that a breach does not necessarily invalidate an appointment. Indeed, I have always maintained the breach was inadvertent and not material, which the facts he lays out substantiate."
"Nevertheless, I have decided that it is right to prioritise the interests of the BBC," he continued. "I feel that this matter may well be a distraction from the Corporation's good work were I to remain in post until the end of my term. I have therefore this morning resigned as BBC Chair to the Secretary of State, and to the Board."
BBC director-general Tim Davie said: "On behalf of the BBC Executive, I would like to thank Richard for his service to the BBC and the drive and intellect he brought to his time as Chairman. Working with him over the last two years has been rewarding and Richard has made a significant contribution to the transformation and success of the BBC.
"The focus for all of us at the BBC is continuing the hard work to ensure we deliver for audiences, both now and in the future."
Sharp will remain in post until the end of June while the government finds his successor.
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