Frasers Group names new chair in boardroom reshuffle

British retail giant Frasers Group has initiated a reshuffle of its boardroom upon the exit of its chairman, David Daly. Daly, who has been with the company for eight years, will be stepping down on September 24 following the company’s AGM.

Daly is to be succeeded by Jon Thompson, who will step into the role of chair on September 1. Thompson initially joined Frasers’ board in June 2024 as non-executive director. His promotion, according to the company, reflects an important step in supporting a long-term strategy designed to strengthen its global presence.

In a statement, Thompson acknowledged Daly’s “significant contribution to the development of Frasers over the last eight years”. “He leaves Frasers and the board well positioned to enable the future success of the Elevation Strategy,” Thompson said, referring to Frasers’ wider goal of refining its portfolio.

In addition to Thompson's role change, Frasers has also announced Andy Lyon as a new member of the board. Lyon, who is taking on a non-executive director role, previously served as a senior audit partner at PwC, specialising in retail and consumer markets and leading the audits of several large retailers, including Next.

He is among two new directors set to join the board, succeeding Ger Wright and Helen Wright, who are not seeking re-election at the upcoming AGM. An additional candidate is expected to be announced in due course.