Former BBC Chief To Join State Assets Body

A former BBC executive will on Thursday be appointed to the board of the body which oversees state-owned assets weeks before the completion of an inquiry into how such businesses are sold.

Sky News has learned that Caroline Thomson, who stepped down as the BBC's chief operating officer in 2012, will become a non-executive director of the Shareholder Executive (ShEx).

Her appointment comes just six months ahead of next year's General Election, when the major parties will face scrutiny over their approach to public ownership of prominent assets such as Channel 4 and the Royal Mint.

Ms Thomson, who now chairs Digital UK, the body responsible for digital terrestrial television, will attend her first ShEx board meeting next month, sources said on Wednesday.

Robert Swannell, the ShEx chairman who also chairs Marks & Spencer (Other OTC: MAKSF - news) , has been keen to recruit additional non-executives at ShEx since taking the helm.

Earlier this year, Vince Cable, the Business Secretary, asked Lord Myners, the former City Minister, to examine how state assets could be sold on the public markets following the row over the £3.3bn privatisation of Royal Mail (LSE: RMG.L - news) .

The postal operator's value soared after its shares were listed on the London Stock Exchange (Other OTC: LDNXF - news) nearly 13 months ago, prompting criticism from the public spending watchdog that it had been undervalued.

Since then, its shares have slipped back amid growing external pressures on Royal Mail's business.

The next business in line to be sold is the Government's minority stake in Eurostar, which could fetch £300m.

Other major assets owned by the Government which could be privatised include a one-third stake in Urenco, the uranium processor; the Land Registry, which ministers decided this year not to sell; and the Met Office.

ShEx also works with recently created vehicles such as the British Business Bank and Green Investment Bank.