RegulationCorporate GovernanceSir John to retire from POB

Sir John to retire from POB

Sir John Bourn says he will step down as chair of the Professional Oversight Board as soon as a successor is found

Sir John Bourn is to quit his job as chair of the Professional Oversight
Board, capping off one of the most turbulent periods of his lengthy career.

The former National Audit Office chief has been under the spotlight since
becoming embroiled in an expenses storm last year, and has now decided not to
stand for re-election in his capacity as head of the POB.

The Financial Reporting Council has been undertaking a sweeping overhaul of
its structure, which included the heads of its various boards being reviewed as
part of a re-election process, but Sir John has decided to drop his
responsibilities on the POB panel.

The FRC
said
: ‘Sir John Bourn, after serving more than two full terms as chair of
the Professional Oversight Board and its predecessor, the Review Board of the
Accountancy Foundation, has said that he does not wish to be considered for a
further three-year term.’

Sir John will continue as chair of the POB, past the official end of his term
on 31 March 2008, until his successor can take over. He will then continue as an
adviser to the FRC, committing two days a week to the role.

FRC chairman Sir Christopher Hogg said: ‘I am very pleased that the FRC can
continue to benefit from John’s massive experience and am most grateful to him
for guiding the POB through a period of considerable development in its
activities, which include, in particular, taking on its statutory role in
relation to audit regulation and its new responsibilities for regulation of the
actuarial profession.’

The FRC ill start the search for Sir John’s replacement shortly.

Further reading:

Sir
John to face re-election round

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