Frasers Group Plc (LSE:FRAS) announced on Friday that David Daly will step down as chair after serving on the board for eight years. He will be succeeded by Sir Jon Thompson, effective September 1.
The company confirmed that Daly will officially leave the board at the annual general meeting on September 24, 2025.
Sir Jon Thompson joined Frasers Group in June 2024 as a non-executive director. The company highlighted his extensive experience in corporate governance and managing large-scale projects.
Frasers also indicated plans to appoint Andy Lyon as a non-executive director, with a second non-executive appointment expected to be announced later. These changes will replace Daly, Ger Wright, and Helen Wright, all of whom are not standing for re-election at the AGM.
Lyon, formerly a senior audit partner at PwC, previously oversaw audits for Next and its credit operations. Frasers noted that his expertise in finance and governance will be instrumental in supporting the growth of Frasers Plus.
During his 24-year tenure at PwC, Lyon focused on the retail and consumer sectors, leading audits for several major global retailers, including department stores and fashion brands. He also served as senior partner for PwC’s East Midlands office, was a member of the Midlands leadership team, and contributed to PwC’s retail and consumer leadership team with responsibility for regional operations.
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