The Chairman of the BBC has resigned following a report which found he had breached the governance code for public appointments.

Mr Sharp made the announcement on Friday morning (April 28) that he will stand down at the end of June.

The news comes after the publication of barrister Adam Heppinstall KC’s review into his appointment.

The report was ordered after it emerged he played a role in facilitating an £800,000 loan guarantee for then prime minister Boris Johnson before being recommended for the influential role overseeing the public broadcaster’s independence.

Hereford Times: The BBC Chairman released a statement on Friday. ( PA)The BBC Chairman released a statement on Friday. ( PA) (Image: PA)

Richard Sharp's full resignation statement

In his statement, Sharp said: “Being the Chairman of the BBC has been an enormous privilege.

“It is an incredible organisation which has never mattered more than it does today, at home in the UK and around the world. I am very proud to have worked with the uniquely talented teams across the BBC. They are the best at what they do and I shall always be their champion.”

Tim Davie, the Director-General of the BBC, said: “On behalf of the BBC Executive, I would like to thank Richard for his service to the BBC and the drive and intellect he brought to his time as Chairman.

“Working with him over the last two years has been rewarding and Richard has made a significant contribution to the transformation and success of the BBC.

“The focus for all of us at the BBC is continuing the hard work to ensure we deliver for audiences, both now and in the future.”

The BBC Board issued the following statement: “We accept and understand Richard’s decision to stand down. We want to put on record our thanks to Richard, who has been a valued and respected colleague, and a very effective Chairman of the BBC. The BBC Board believes that Richard Sharp is a person of integrity.

“Richard has been a real advocate for the BBC, its mission, and why the Corporation is a priceless asset for the country, at home and abroad. He has always had the impartiality of the BBC and a desire to see the organisation thrive at the forefront of his work as Chairman.

“We understand that the UK Government is moving swiftly to begin the process of appointing a new Chairman of the BBC, in line with the terms of the BBC’s Charter.”

In a letter to Richard Sharp, Culture Secretary Lucy Frazer, said: “I understand and respect your decision to stand down.”

She told the outgoing chairman: “I know that you are held in high regard by the BBC Board.

“You have clearly demonstrated your commitment to public service and I especially applaud the work you did during the pandemic. Your decision to step down in the wider interests of the corporation is further testament to that commitment.

“Certainty and stability for the corporation are clearly a shared priority. In this context, I have spoken to the board and they have proposed that you stay in place until the next board meeting on June 27 2023 whilst an acting chair is appointed in line with the Charter.

“I have accepted this and would like to thank you for your continued service to assist in ensuring an orderly and smooth transition takes place. We will also move to launch a process to identify and appoint a permanent new chair.

“Thank you, once again, for your service and I wish you well for the future. I am sure there will be further opportunities for you to make a significant contribution to public life.”