BBC chairman resigns following breach of rules over loan to ex-UK PM

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In response to findings that he had broken public appointment standards by failing to disclose a potential conflict of interest in his role in negotiating a $1 million loan for the then-prime minister, Boris Johnson, BBC Chairman Richard Sharp resigned on Friday.

His departure occurred as political scrutiny of the British public broadcaster is at an all-time high. Last month, a high-profile argument over neutrality with handsomely compensated presenter Gary Lineker dominated British news coverage.

Sharp, a former Goldman Sachs banker who assumed the chairmanship of the BBC in 2021, had been under fire since a committee of legislators stated in February that he committed “significant errors of judgment” by not disclosing his involvement in the scandal.

To give the government time to identify a replacement to run the broadcaster, which is financed by a license fee paid by TV-viewing households, Sharp said he had agreed to remain on until the end of June.

The public appointments watchdog commissioned the investigation, which looked into how the government chose Sharp to lead the corporation in 2021.

It specifically examined whether Sharp had completely revealed the specifics of his assistance in arranging a loan for Johnson for $1 million before he was named chairman.

Even though he had broken the government’s rules for public appointments, the study ruled that this did not automatically render his appointment ineligible. Sharp declared that he thought the breach had been “accidental and not material.”

However, he added that continuing to serve for the remainder of his four-year term would detract from the broadcaster’s “good work”.

“I have decided that it is right to prioritize the interests of the BBC,” Sharp said in a statement. “I have, therefore, this morning, resigned as the BBC chair.”

According to the story, Sharp was deemed to be “a strong candidate” for the position, which received 23 applications, from Johnson’s Downing Street office.

Sharp claims he did nothing more than try to introduce Canadian businessman Sam Blyth to a government official in late 2020 and that he was not involved in making the loan, getting a guarantee, or arranging any finance.