Chair of UK competition regulator steps down

(Reuters) -The chair of the UK Competition and Markets Authority (CMA), Marcus Bokkerink, has stepped down from his post, the competition regulator said on Tuesday.

Doug Gurr has been appointed interim chair, the CMA said in a statement.

The Financial Times reported earlier on Tuesday that Bokkerink, who was appointed chair of the CMA in 2022, was "forced out" as the government felt the regulator was not sufficiently focused on economic growth.

Asked to comment on the FT report, CMA Chief Executive Sarah Cardell said: “I would like to thank Marcus for his leadership and support over the last two years. He has tirelessly championed consumers, competition and a level playing field for business, as well as being steadfastly committed to openness and stakeholder engagement across the UK."

She added: “The CMA has a critical role to play supporting the government’s growth mission. I welcome the appointment of Doug Gurr as the CMA’s new interim chair and look forward to working closely with him as we drive growth, opportunity and prosperity for the UK.”

In a separate statement earlier on Tuesday, the CMA quoted Business Secretary Jonathan Reynolds as saying: "We want to see regulators including the CMA supercharging the economy with pro-business decisions that will drive prosperity and growth, putting more money in people’s pockets."

In October, the regulator was singled out by Labour Prime Minister Keir Starmer when he promised to scrap regulation that was holding back growth.

The CMA said the following month that it would focus on "truly problematic mergers" and rethink its approach to remedies that could allow more deals to go ahead to support the government's growth mission.

The CMA has stepped up its scrutiny of Big Tech in recent years by establishing its Digital Markets Unit.

The unit, which gained new powers this month, is tasked with ensuring that the biggest tech companies, such as Alphabet's Google, Amazon.com, Meta Platforms, Apple and Microsoft, do not abuse their dominant market positions.

Since returning to power last July, the Labour Party has been struggling with a sluggish economy, while a bond market selloff earlier this month, which had a particular impact on British markets, also piled pressure on the new government.

Finance Minister Rachel Reeves has also urged regulators to remove barriers to growth, tasking them with creating a regulatory environment that boosts investment and innovation.

(Reporting by Angela Christy in Bengaluru and Catarina Demony in LondonEditing by Franklin Paul, Nia Williams and Matthew Lewis)