BBC chairman Richard Sharp resigns after report finds he breached rules

Sharp has helped get Boris Johnson a £800,000 loan

In a statement given before the publication of the report, Sharp said Adam Heppinstall KC, who led the inquiry, had concluded “that while I did breach the governance code for public appointments, he states that a breach does not necessarily invalidate an appointment".

Sharp continued: "Indeed, I have always maintained the breach was inadvertent and not material, which the facts he lays out substantiate."

Sharp said he was resigning to “prioritise the interests of the BBC”, but would remain in post until the end of June while a successor could be found.

The report by the Commissioner for Public Appointments has also just been published. Read the full report here.

It was revealed earlier this year in The Sunday Times that Sharp helped facilitate Johnson getting an £800,000 loan while the hiring process was in motion.

The PM - which Johnson was at the time - appoints the new chair.

Sharp said he did not arrange the loan but admitted introducing his friend Sam Blyth, a cousin of Johnson's, to the Cabinet Office.

The Office of the Commissioner for Public Appointments later announced it would conduct a review of the process that led to Sharp's appointment.

In February, a cross-party committee of MPs announced that Sharp made "significant errors of judgement". They added that his actions "constitute a breach of the standards expected of individuals" applying for prominent public appointments.

This is a breaking news story. More to follow.