OFT Chief to Step Down Later This Year
The Office of Fair Trading’s Chief Executive, John Fingleton, is to step down later in 2012, after seven years in the role.
He said: “I am proud of the OFT’s achievements over the past seven years. During that time we have tackled major issues of concern to the public, helping to ensure that consumers are treated fairly and that firms are competing vigorously and transparently for their custom. In very many UK sectors, consumers are increasingly served by competitive, efficient businesses that comply with consumer and competition law.
“As the Government moves closer to a decision on the future structure of the regime, this is a good time for someone new to take the helm at the OFT and steer the competition and consumer regime into the future. I have not yet decided on my next career move.”
OFT Chairman, Philip Collins, said: “Under John’s vigorous leadership the OFT has taken on issues that really matter to consumers and the economy, across everything from bank charges and PPI to airport ownership, the construction industry and transparency of prices. High impact enforcement, often against well resourced household name companies, has helped to drive compliance with the law – recent research shows, for example, that knowledge of competition law doubled between 2006 and 2010. The OFT has also played a significant role in advocating the benefits of competition to policymakers.
“I am grateful to John for building on the foundations laid by his predecessor, Sir John Vickers, and leading the significant further development of the OFT. Future developments and arrangements, both in the UK and internationally, will have been greatly strengthened by his intellectual leadership.”
The OFT Chief Executive is appointed by the Secretary of State at the Department for Business, Innovation and Skills (BIS) after consulting the OFT Chairman.
By his term of appointment, Dr Fingleton is expected to give six months’ notice.
Dr John Fingleton was appointed OFT Chief Executive in October 2005. He was previously Chairperson of the Irish Competition Authority, and before that was an academic economist at the London School of Economics and at Trinity College Dublin.
He is also Chair of the Steering Group of the International Competition Network.