3i's Baroness Hogg to head FRC
Published Monday, 07 December 2009 in Mid Market.
3i chairman Baroness Hogg is to chair the Financial Reporting Council, the quango that sets corporate governance and financial reporting standards, from next May.
Hogg has been appointed by business secretary Lord Mandelson to the post, which will pay £120,000 per year and require two days a week of work, according to the Financial Times.
Hogg announced her resignation as chairman of 3i at the firm's July annual meeting, though 3i has refused to comment on the reasons for her planned departure next year.
The search for her replacement has yet to commence.
Hogg has been deputy chairman of the FRC, which sets non-enforceable standards for corporate governance and financial reporting, since 2007.
