The Financial Reporting Council (FRC) in the UK has confirmed that its chair, Sir Jan du Plessis, will step down from the role at the end of September.
In a statement, the FRC said that du Plessis has formally notified the Secretary of State for Business and Trade of his intention to retire.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
He has served as the chair of the regulator since February 2022.
During this period, the organisation said it has undergone major reform and modernisation, while reinforcing its responsibilities for audit, corporate governance and corporate reporting standards in the UK.
Du Plessis’ tenure has seen progress on audit and corporate governance reform, and improvements in audit quality through actions designed to promote greater consistency, challenge and professional scepticism.
Du Plessis has also overseen what the FRC describes as the largest consultation to date on the UK Corporate Governance Code, with the aim of keeping it principles‑based, reducing unnecessary reporting demands and maintaining support for UK corporate competitiveness.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe regulator also pointed to changes to the UK Stewardship Code and deeper engagement with stakeholders across UK corporates.
Prior to joining the FRC, du Plessis chaired the BT Group, Rio Tinto, SABMiller, RHM and British American Tobacco.
He has also held senior leadership and board positions at Richemont, Marks & Spencer and Lloyds Banking Group.
He will remain FRC chair until the end of September to provide continuity while the process to appoint his successor is carried out.
FRC chief executive Richard Moriarty said: “Sir Jan’s leadership, clarity of purpose and commitment to the public interest have shaped the FRC during one of the most important periods in its history.
“His extensive experience chairing some of the UK’s most significant public companies has brought real depth and insight to the organisation’s important work.”
Du Plessis added: “After a long career in business, it has been a real privilege over the last four years to be of public service.
“I am immensely proud of what the FRC has achieved in recent years and of the professionalism, integrity and commitment that I have seen across the organisation.”
