Frasers Group appoints Jon Thompson as new chair as Daly steps down

(Sharecast News) - Frasers Group said on Friday that chair David Daly will step down from the board at the annual general meeting next month after eight years of service and will be succeeded by Sir Jon Thompson on 1 September. The company also said it expects to appoint Andy Lyon as non-executive director and to make a further announcement in due course regarding a second, "well-advanced" candidate, for a further non-executive director position.

Those roles would succeed David Daly, Ger Wright and Helen Wright, who are not seeking re-election at the forthcoming AGM.

Thompson joined the group's board of directors in June 2024 as a non-executive director, "bringing with him extensive experience in corporate governance and major project management," Frasers said.

"His appointment marks an important step in supporting Frasers Group's long-term strategy as it continues to strengthen its position as a global business," it added.

Frasers said that Andy Lyon, a former partner at PwC whose expertise includes acting as audit partner for Next and its credit business, "would add significant financial and governance experience to further strengthen the team as it develops Frasers Plus".

Chief executive Michael Murray said: "I would like to thank David for his outstanding leadership, guidance, and the wealth of expertise he brought to the board, which has been instrumental in helping us deliver on our Elevation Strategy. We wish him all the very best for the future. I would also like to thank Ger and Helen for their contributions during their time with Frasers Group.

"I'm equally delighted to announce our proposed new appointment to the board with Andy, as well as Jon's confirmed appointment to chair, as we enter the next phase of our strategy. Jon's deep experience in corporate governance and strategic leadership will be invaluable as we continue to grow as a leading global retail business."