The BBC chairman Richard Sharp who arranged an £800,000 loan to former Prime Minister Boris Johnson has resigned

His resignation follows the publication of the results of a months long investigation into the affair and the circumstances surrounding his appointment

Adam Heppinstall KC’s report found he “failed to disclose potential perceived conflicts of interest” and that he breached the rules surrounding public appointments

“Richard Sharp failed to disclose potential perceived conflicts of interest to the Panel which interviewed candidates and advised Ministers on who to appoint”.

The BBC Board issued the following statement: “We accept and understand Richard’s decision to stand down. We want to put on record our thanks to Richard, who has been a valued and respected colleague, and a very effective Chairman of the BBC. The BBC Board believes that Richard Sharp is a person of integrity.

“Richard has been a real advocate for the BBC, its mission, and why the Corporation is a priceless asset for the country, at home and abroad. He has always had the impartiality of the BBC and a desire to see the organisation thrive at the forefront of his work as Chairman.

“We understand that the UK Government is moving swiftly to begin the process of appointing a new Chairman of the BBC, in line with the terms of the BBC’s Charter.”

Richard Sharp, Chairman of the BBC said:

“Being the Chairman of the BBC has been an enormous privilege. It is an incredible organisation which has never mattered more than it does today, at home in the UK and around the world. I am very proud to have worked with the uniquely talented teams across the BBC. They are the best at what they do and I shall always be their champion.”

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