Richard Sharp has resigned as chairman of the BBC after a report found he broke the rules by failing to disclose the role he played in helping Boris Johnson secure an £800,000 loan.

Adam Heppinstall KC's review found the former Conservative donor twice breached the code governing public appointments, risking the perception he was not independent from the then-prime minister.

Mr Sharp, a former Goldman Sachs banker, has spared forcing Prime Minister Rishi Sunak to decide on his fate by announcing he will stand down from the influential role overseeing the public broadcaster's independence at the end of June.

Following the publication of the report, Mr Sunak said he has not seen the report or spoken to Mr Sharp following his resignation.

The prime minister also told journalists: "When concerns are raised, it is right there is a proper process, an independent process that we don't prejudge, we allow it to carry on, establish the facts of what happened, reach a conclusion.

"That has happened, Richard Sharp has resigned. But it is right that we do these things properly and professionally, I think most people will think that is the right thing to do."

Asked if Mr Sharp's replacement should be a non-political appointment, Mr Sunak said he was "focused on delivering for the British people".

Meanwhile, Mr Johnson remained tight-lipped when asked about Mr Sharp as he left his home this morning prior to the release of the report.

In his resignation statement, Mr Sharp insisted that his breach of the rules was "inadvertent and not material".

"Nevertheless, I have decided that it is right to prioritise the interests of the BBC," he added.

"I feel that this matter may well be a distraction from the corporation's good work were I to remain in post until the end of my term.

"I have therefore this morning resigned as BBC chair to the secretary of state, and to the board."

Mr Sharp has said he will stay on until a replacement is found.

"To chair this incredible organisation has been an honour," he added.

The BBC Board said this morning: "We accept and understand Richard's decision to stand down."

BBC director-general Tim Davie thanked Mr Sharp for his service and "the drive and intellect he brought to his time as chairman".

Mr Sharp had been caught up in a row over his appointment into the role at the BBC since January, when it emerged he helped facilitate an £800,000 loan guarantee for Boris Johnson - just weeks before the former prime minister appointed him.

He had introduced his friend Sam Blyth, a distant cousin of Mr Johnson who wanted to help him with his financial troubles, to Cabinet Secretary Simon Case ahead of being recommended for the BBC role by the government.

An investigation into Mr Sharp's appointment by the commissioner for public appointments was announced in January only for the commissioner, William Shawcross, to recuse himself from the process due to "contact" between himself and the BBC chairman.

Mr Heppinstall KC took over the probe.

This investigation was published this morning by the commissioner for public appointments.

It outlined how Mr Sharp told Mr Johnson he wanted to apply for the BBC chairman role in November 2020.

And it considered how he met Mr Case the following month regarding the introduction to Mr Blyth over the then-prime minister's financial affairs.

Mr Sharp "failed to disclose potential perceived conflicts of interest to the panel which interviewed candidates and advised ministers", the barrister ruled.

All of these issues were not divulged to the government when applicants for the BBC chair role were asked to disclose potential conflicts of interests.

This "gave rise to a potential perceived conflict of interest" on two issues, the report found:

1) Mr Sharp's conversation with Mr Johnson before the application that he wanted to apply;

2) Mr Sharp telling Mr Johnson that he was going to help with his personal finances.

It was concluded that these not being disclosed to the panel selecting him meant Mr Sharp breached the code.

The inquiry found it could be perceived that Mr Sharp was given the job because he helped the prime minister with a financial matter, and he may not be independent of Number 10.

Mr Sharp said he "wished" he had told the panel about the potential perceived conflicts of interest - although according to the report, he disagreed with the finding that "point 1" led to a conflict of interest.

The report also found that Number 10's support for Mr Sharp was relayed to the government department dealing with the appointments process.

Mr Sunak - who used to work for Mr Sharp at Goldman Sachs - previously declined to respond to questions about their relationship or Mr Sharp's integrity.

He told reporters: "Richard Sharp went through an independent appointments process at the time that I had nothing to do with - he was appointed before I was prime minister."

Labour said the saga has caused "untold damage" to the reputation of the BBC and "seriously undermined its independence as a result of the Conservatives' sleaze and cronyism".

In a letter to Mr Sharp, Culture Secretary Lucy Frazer thanked him for his work, and noted that he is "held in high regard by the BBC board".

She accepted that Mr Sharp will stay in place until the next BBC board meeting on 27 June this year.

Mr Sharp faced renewed scrutiny after the backlash against the BBC's decision to take Match of the Day presenter Gary Lineker off-air for his tweets over the government's immigration policy.

Critics questioned Mr Sharp's impartiality in the context of the row about Lineker's views.

Following the release of the report this morning Lineker tweeted: "The BBC chairman should not be selected by the government of the day.

"Not now, not ever."

Grandkay21:
If this happens in Nigeria they will even promote Mr Sharp sef

Ogiame:
A Sharp thief.

yaki84:
In Nigeria, the more connected u r to the govt the better.

Infact in nigeria, this isnt a crime at all...

KingSatan:
This is a lesson to "Japarians"

Nigeria isn't the only corrupt country. Even those who tag us as fantastically corrupt, are wicked and extremely corrupt.

KingSatan:
This is a lesson to "Japarians"

Nigeria isn't the only corrupt country. Even those who tag us as fantastically corrupt, are wicked and extremely corrupt.

Ogiame:
A Sharp thief.

DeLaRue:
Why is this news relevant to Nigeria.

We hear absolutely nothing about interesting countries in our region like Ivory Coast and Senegal, or even Ghana and others, yet you guys are fixated with meaningless news from a far away whose people don't care a zilch about you

Please report news from our neighbours.

SultanOfAbia:
White people were created differently by God
I don't know who created us Africans
I doubt if God created Africans

When I look at how people openly urinate outside, throw dirty on floor.
They way we carry church for head yet we are the most hypocrital tribalism corrupt set of people.

The whites have their faults too
But Africans are just way too backwards

If you see the way white people truly see Africans you go shock.
THEY SEE US AS VERY INFERIOR

if you look around, u will know they are saying the truth.

KingSatan:
This is a lesson to "Japarians"

Nigeria isn't the only corrupt country. Even those who tag us as fantastically corrupt, are wicked and extremely corrupt.

Ogiame:
A Sharp thief.

SultanOfAbia:
White people were created differently by God
I don't know who created us Africans
I doubt if God created Africans

When I look at how people openly urinate outside, throw dirty on floor.
They way we carry church for head yet we are the most hypocrital tribalism corrupt set of people.

The whites have their faults too
But Africans are just way too backwards

If you see the way white people truly see Africans you go shock.
THEY SEE US AS VERY INFERIOR

if you look around, u will know they are saying the truth.

KingSatan:
This is a lesson to "Japarians"

Nigeria isn't the only corrupt country. Even those who tag us as fantastically corrupt, are wicked and extremely corrupt.