Sir Christopher Hogg takes on top FRC role

Sir Christopher Hogg, former Retuers and GlaxoSmithKline chairman, is to take
over as the head of the UK’s accounting watchdog from the beginning of next

On 1 January 2006 Sir Christopher will replace Sir Bryan Nicholson as
chairman of the Financial Reporting Council. Sir Bryan has chaired the body
since 2001, steering it through a major transformation in 2004, when it took on
the responsibilities of the now-defunct Accountancy Foundation and received
enhanced powers.

Sir Christopher’s role attracts a remuneration package of £130,000 for three
days’ work a week. The appointment is for three years, but this can be extended
for a further three should it be required.

‘I welcome Sir Christopher’s appointment as the new Chair of the FRC,’ said
trade and industry secretary Alan Johnson. ‘He has a strong business background
at senior levels, both domestically and internationally and is highly respected
in the business community.’

‘I would like to pay tribute to the excellent work Sir Bryan has done at the
FRC,’ he added. ‘He led the organisation very successfully through a period of
major change when it took on significant responsibilities for improving
confidence in corporate reporting.’

In accepting the position, Sir Christopher said that the UK has an ‘admirable
and fully developed corporate reporting regime’ but that there are also ‘major
new challenges, such as international financial reporting standards and
international auditing standards’, to deal with.

Alongside his positions as chairman at Reuters and GSK – leaving both last
year – Sir Christopher has also served as chairman and chief executive of
Courtaulds and chairman of the National Theatre, as well as being a member of
the JP Morgan International council.

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