The FRC has said that as the role was a part-time position, it was agreed as part of his appointment process that Simon Dingemans could take on additional roles provided they did not conflict with his responsibilities at the FRC.

This has not proved possible and so it is with regret that Mr Dingemans has informed the board and the Secretary of State that he intends to step down.

Mr Dingemans is expected to return to a more full-time role in the private sector. BEIS will now take forward the appointment of a new FRC chair.