Keith Skeoch

Mr Skeoch will serve as interim chair from October 12 for a period of up to six months.

Previously a non-executive director at the FRC, Mr Skeoch will take on the role while a recruitment round is carried out to find a permanent replacement for former chair Simon Dingemans, who stepped down in May this year.

Mr Skeoch is currently chair of the Investment Association and a member of the Takeover Panel. He was formerly CEO of Standard Life Aberdeen plc and CEO of its asset management business, Aberdeen Standard Investments.

Sir Jon Thompson, FRC CEO, said: “I am very pleased that Keith has been appointed by the Secretary of State as the Interim Chair of the FRC. Keith is well known to the board given his previous tenure as a non-executive and I know he has contributed a great deal already to the FRC’s ambitious audit reform programme and will now lead the FRC as we transform into ARGA.

“I look forward to working with him and the rest of the board as the FRC continues to deliver against its strategic objectives and work in the public interest towards maintaining trust in corporate reporting and meaningful audit reform.”

Keith Skeoch added: “I am delighted to re-join the FRC board as interim chair. I am looking forward to working with Sir Jon Thompson, the board and the whole of the FRC to continue to deliver all of the elements of the transformation agenda, as well as improving trust and confidence in corporate reporting, the quality of audit, and promoting high quality stewardship. The FRC’s remit and reach are ever more important given the challenging backdrop all of our stakeholders are operating in currently and I feel honoured to be leading the organisation during this time.”