Former Deputy Governor of the Bank of England and Chairman of Prudential PLC, Sir David has been selected following an open recruitment process under the Commissioner for Public Appointments’ Code of Practice. The selection panel was chaired by a Public Appointments Assessor and included two independent panel members and one Government representative.
Sir David will now appear before the Culture, Media and Sport Select Committee for pre-appointment scrutiny on January 17 2017.
Under the new BBC Charter, the BBC Trust is to be replaced by the new BBC Board, which will be responsible for overseeing a strong and independent BBC.
Culture Secretary, Karen Bradley, said:
The new BBC Charter will secure the future of the BBC, strengthen it and give it an unprecedented degree of independence. It will make it more transparent, accountable and representative. I am confident that Sir David will provide the strong leadership necessary for the BBC to remain the world’s best broadcaster.
Sir David will bring a wealth of experience to the role and was the strongest candidate in an extremely competitive and high-calibre field. He has extensive experience as a chairman in both the commercial and not-for-profit sector, and has a strong regulatory and business background. I am confident that under his direction, the nation’s broadcaster will continue to go from strength to strength.
Sir David said:
The BBC is a world class broadcaster and one of the UK’s most beloved and cherished institutions. It would be a great honour to join the BBC at an important time in the organisation’s history.
Under the terms of the BBC Royal Charter, appointment of the BBC Chair and members is made by HM The Queen on recommendation from Ministers (the Secretary of State for Culture, Media and Sport, through the Prime Minister).
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Notes for Editors
Sir David Clementi has been Chairman of a number of organisations in both the commercial and not-for-profit sector. He has Board-level experience across a wide range of sectors: finance, property, mining, legal services, education and the Arts. From 2002 to 2008 he was Chairman of Prudential plc. Before joining the Prudential, David was Deputy Governor of the Bank of England for five years between 1997 and 2002. In addition to his membership of the Monetary Policy Committee, he was responsible for the day-to-day management of the Bank. Prior to joining the Bank of England, David worked at Kleinwort Benson for 22 years (1975-1997), including as Chief Executive (1994-1997).
He has significant experience of governance issues in different types of organisations, covering both commercial and not-for-profit organisations. From 2003 to 2007 he was on the Board of the Financial Reporting Council, responsible for the Combined Code of Corporate Governance. He has chaired the Audit Committee of an international FTSE company, Rio Tinto, and acted as a Senior Independent Director and Chairman of the Finance and Audit Committee of the Royal Opera House.
He also has significant experience of regulatory systems. He was a Director of the Financial Services Authority from 1997 to 2002. In 2003/4 he carried out a review for the Ministry of Justice of the regulatory framework for legal services in England and Wales, reporting to the Lord Chancellor in December 2004. The main recommendations of the Report formed the basis of the Legal Services Act 2007. In September 2015 he was asked by the Secretary of State at the Department of Culture, Media & Sport to review the governance and regulatory arrangements for the BBC, reporting in March 2016.
This process was run in accordance with the OCPA Code of Practice. It is a requirement of the Code that political activity is declared; David Clementi has declared no such political activity. Remuneration for the role of BBC Chair is £100,000 per annum.
The Board will comprise fourteen members: a non-executive Chair, a designated non-executive member for each of the Nations of the UK (England, Northern Ireland, Scotland and Wales); five other non-executive members and four executive members, including the BBC Director-General.
The Chair and four non-executive members for the Nations will be appointed by The Queen-in-Council. The other non-executive members will be appointed by the BBC Board through its nominations committee. The executive members will also be appointed by the Board through its nominations committee.