Daly’s tenure will conclude at the company’s Annual General Meeting (AGM) scheduled for 24 September 2025.
The group has named Sir Jon Thompson as Daly’s successor, effective 1 September 2025.
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His elevation to chair is seen as a strategic move to bolster Frasers Group’s ongoing expansion and market consolidation efforts.
Thompson joined the board as a non-executive director in June last year. He has experience in corporate governance and large-scale project management fields.
Sir Jon Thompson said: “I am very much looking forward to working alongside Board colleagues, the Group Executive Team and the wider company to continue Fraser Group’s evolution.
“I would like to acknowledge David’s significant contribution to the development of Frasers over the last eight years and thank him for his expert leadership. He leaves Frasers and the Board well positioned to enable the future success of the Elevation Strategy.”
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By GlobalDataAdditionally, Frasers Group has indicated its intention to appoint Andy Lyon, previously a partner at PricewaterhouseCoopers (PwC), to the role of non-executive director.
Within the retail sector, Lyon has led audits for major global retailers including Next and served in leadership roles at PwC, including overseeing regional practices for retail and consumer markets.
Lyon’s appointment is part of a broader board restructuring that includes identifying another advanced candidate for an additional non-executive director role, said Frasers.
These appointments are set to fill the vacancies left by David Daly, Ger Wright, and Helen Wright, who have decided not to stand for re-election at the forthcoming AGM, noted the company.
Frasers Group CEO Michael Murray said: “I would like to thank David for his outstanding leadership, guidance, and the wealth of expertise he brought to the board, which has been instrumental in helping us deliver on our Elevation Strategy. We wish him all the very best for the future. I would also like to thank Ger and Helen for their contributions during their time with Frasers Group.
“I’m equally delighted to announce our proposed new appointment to the board with Andy, as well as Jon’s confirmed appointment to chair, as we enter the next phase of our strategy. Jon’s deep experience in corporate governance and strategic leadership will be invaluable as we continue to grow as a leading global retail business.”
Frasers Group anticipated a rise in operational expenses of £50m for the fiscal year 2026, attributing this to prevailing economic difficulties.
This projection comes even as the company experienced a 2.0% uptick in retail profit from its operations during the 52-week span ending April 27 of the fiscal year 2025.
