Richard Sharp has resigned from his position as chairman of the BBC after a report found he breached the governance code for public appointments. The report investigated whether he failed to properly disclose his involvement in the facilitation of a loan to Boris Johnson.

The report, conducted by barrister Adam Heppinstall and published on Friday morning, concluded that Mr. Sharp did breach the code by not disclosing his involvement. In response, Mr. Sharp claimed the breach was "inadvertent and not material."

Mr. Sharp had faced mounting pressure to resign following reports that he acted as a middleman in helping then-Prime Minister Boris Johnson secure a financial loan just weeks before Johnson appointed him to his post in 2021. In February, Sharp had denied arranging the loan but described himself as a "sort of introduction agency" when questioned by lawmakers.

The BBC Board released a statement accepting Mr. Sharp's resignation and thanking him for his contribution to the organization. The statement also confirmed that the search for a new chairman will begin immediately.