The chairman of Standard Chartered and Burberry Group has been hired by the government to lead its Midlands Engine initiative, which is aiming to boost the region’s economy by £34bn by 2030.
Sir John Peace will act as chairman of the partnership which aims to accelerate productivity and growth across the whole of the Midlands.
He will take over from interim chairman David Frost and will be supported by a supervisory group comprising representatives from local authorities, businesses and universities.
Sir John will also continue in his role as chairman of Midlands Connect, which is working on a transport strategy to improve the region’s connectivity.
He 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.”
