It has been announced that Sir John Peace, chairman of Standard Chartered and Burberry Group, will act as chairman of the Midlands Engine initiative.
Sir John will take over from interim chairman David Frost whilst continuing his role as chairman of Midlands Connect. When asked to comment on his appointment, Mr Peace said,
“The Midlands Engine is a compelling opportunity to better represent the Midlands region, attract significant new investment and create more jobs.
“A huge amount of work has already been done by stakeholders from both the private and public sectors with the aim of growing the wider Midlands economy, and as the newly appointed chairman I will do my best to make this very exciting vision become a reality.”
The Midlands Engine aims to create 300,000 jobs and generate an additional £34bn for the local economy by 2030. Business Secretary Sajid Javid, who outlined plans for the initiative in December 2015, said,
“It is great news that Sir John Peace will take up the role of chairman of the Midlands Engine. His business leadership experience and continued commitment to Midlands Connect will drive forward exactly what we want to achieve with the Midlands Engine.
“These are exciting times for the Midlands – the economy is growing, businesses are thriving and inward investment is up. By capitalising on the region’s assets under Sir John Peace’s leadership, the Midlands can become even greater than the sum of its parts.”