Ofcom chief Ed Richards to step down

Ofcom chief executive Ed Richards today announced he will step down from his £393,000-a-year role in charge of the media regulator in December.

Former Blairite aide Richards, 49, who applied to be BBC director-general in 2012, said it was “the right time to move on” after eight years.

Ofcom chairman Dame Patricia Hodgson has hired headhunters Zygos to find his replacement. Culture Secretary Sajid Javid must approve the candidate.

Richards’ departure comes at a significant time ahead of the 2015 general election and doubts about the governance of the BBC, which Ofcom does not regulate at present.

The Conservative Party warned it would curb Ofcom’s power before the 2010 general election, but Richards slashed costs and proved his mettle with his careful handling of the row over Rupert Murdoch’s abortive bid to buy all of BSkyB.

Ofcom claims to have cut its operating costs by 33% in four years – ahead of the Government’s target of 28%.

The regulator for the TV and telecom industries and the Royal Mail claims it has been successful in pushing down on prices for broadband and phone calls, so consumers “get more for less”.

Richards earned £284,000 salary and £30,000 bonus, plus pension and benefits last year as part of his £393,000 package.

His predecessor Stephen Carter went on to a string of private-sector and ministerial roles.