Before his appointment as BBC chairman, Richard Sharp helped then Prime Minister Boris Johnson get a personal loan. The fact that he did not disclose this possible conflict of interest now has consequences: Sharp resigned after massive criticism.
BBC chairman Richard Sharp has resigned after criticism of his role in brokering a loan to then-Prime Minister Boris Johnson. He unintentionally broke rules, Sharp explained. He is leaving his post to prevent damage to the British TV and radio station. Sharp said he would continue in his post until the end of June while the broadcaster finalizes his successor.
A newly released investigative report concludes that Sharp failed to disclose any potential conflicts of interest before he was appointed to the board of directors of the public corporation. Sharp did not disclose the possible “conflicts of interest” to a parliamentary committee that reviewed his nomination in early 2021, attorney Adam Heppinstall said in the government-commissioned report. It could give the impression that Sharp got the BBC job “because he supported the former prime minister in a private financial matter,” Heppinstall noted. In this context, Sharp again emphasized that the violation was “unintentional and not essential”.
Appointed shortly after credit
In late 2020, Sharp helped incumbent Prime Minister Johnson secure a personal loan of up to £800,000 from Canadian businessman Sam Blyth. Shortly thereafter, on government recommendation, Sharp was appointed BBC Chairman.
Both Johnson and Sharp had rejected allegations of nepotism in this context. Sharp emphasized that it was not involved in the handling of the transaction. He only introduced the future lender Blyth to a government official. Blyth is an old friend and also a distant relative of Johnson. Sharp insists he was not given the BBC job in exchange for his role in originating the loan.
The opposition had asked for his resignation
The opposition Labor Party had called for Sharp’s resignation after the incident became known. Labor leader Keir Starmer said his position was becoming increasingly untenable. Many people wondered why Sharp was still in office.
Most recently, the current Prime Minister Sunak distanced himself from 67-year-old Sharp. Sharp had previously been Sunak’s manager at the investment bank Goldman Sachs and later his advisor at the Treasury Department. Prior to his appointment as BBC chairman, Sharp had made large donations to Sunak and Johnson’s Conservative Party. The incumbent prime minister recently said it was right that Johnson’s appointment would again be independently reviewed.
The Chairman of the BBC is appointed by the Monarch on the proposal of the Prime Minister and Minister for Culture. The public broadcaster is not involved in the selection process.