Rachel Reeves has sacked the head of the competition authority after he disagreed with Labour's 'mission' to boost economic growth.
Marcus Bokkerink, who became chairman of the Competition and Markets Authority (CMA) in 2022, is stepping down despite not completing his five-year term.
Doug Gurr, former head of Amazon's UK operations and director of the Natural History Museum, will replace him.
Bokkerink's departure followed an intervention by Business Minister Jonathan Reynolds after his department concluded that the regulator was not sufficiently focused on growth, the FT said.
And this morning, Ms. Reeves told an event hosted by Bloomberg at the World Economic Forum in Davos: “He recognized that this administration has a different strategic approach when it comes to regulation, and he realized it was time for him to move on and to take measures. away for someone who shares the mission and strategic direction this government is taking.'
A broader shake-up at the regulator is also expected later this year as 11 members of the 33-member merger panel, an independent group of experts charged with assessing whether any deals will harm competition, will retire in 2025.
The government will appoint their replacements, many of whom are expected to have a business background.
The ouster of the CMA chairman comes after Prime Minister Sir Keir Starmer, Ms Reeves and Mr Reynolds wrote to the country's regulators encouraging them to be 'more pro-growth and pro-investment'.
From: Marcus Bokkerink (photo), who became chairman of the Competition and Markets Authority in 2022, will not complete his five-year term
Ms Reeves told a Bloomberg-hosted event at the World Economic Forum in Davos: “He recognized that this administration has a different strategic approach when it comes to regulation, and he recognized that it was time to move on and make way for someone who shares the mission and the strategic direction this government is taking.'
Doug Gurr, former head of Amazon's UK operations and director of the Natural History Museum, will replace him.
Mr Bokkerink was appointed chairman in 2022 by then Chancellor Kwasi Kwarteng, after previously being a senior partner at consultancy giant Boston Consulting.
The watchdog has recently faced criticism, including from Prime Minister Sir Keir Starmer, after complaints from companies that it intervenes too much in deals.
At an investment summit in October, Sir Keir said the government will “ensure that every regulator in this country, especially our economic and competition regulators, takes growth as seriously as this chamber does”.
The CMA also faced public criticism from Microsoft after the watchdog initially blocked the tech company's planned takeover of gaming giant Activision Blizzard.
Microsoft president Brad Smith said in 2023 that Britain was “bad for business,” although the deal was eventually greenlit.
Ms Reeves has urged regulators to “cut” red tape in a bid for stronger economic growth.
The Chancellor and Business Secretary met with watchdog bosses earlier in January.
Ms Reeves told bosses they must 'break down regulatory barriers' in a bid to support business investment and innovation to boost Britain's growth prospects.
The CMA and the business department have been contacted for comment.
