The Financial Reporting Council's current director of corporate governance, Chris Hodge, is to step into the new role of director of strategy, taking over from Mridul Hegde.

Hegde, who took up the role in 2012 when the position was established following the process of reform that the FRC had undergone during that year, leaves at the beginning of 2014 to 'seek fresh challenges' the FRC said.

Hodge - who joined the FRC in 2004 - will have overall responsibility for the strategic direction and public perception of the FRC in the UK and internationally, and will report to the FRC chief executive Stephen Haddrill, and sit on the executive committee as of January 2014.

Commenting on the appointment, Haddrill said that Hodge combines a deep understanding of the corporate governance agenda and the environment in which the FRC works, including in Westminster and Brussels.

'This will be invaluable to continuing the momentum that has built up behind the FRC's strategy and our core aim to promote high quality corporate governance and reporting to foster investment,' said Haddrill.

'I am very grateful to Mridul for all that she has done over the last year, in particular helping to steer the FRC on a new strategic course in line with our ambition to be a more forceful and well recognised body.'

Hodge said he looked forward to the challenges as the FRC progresses its vital work of delivering to investors the means to evaluate risk effectively.

'The FRC's strategy group is uniquely placed to demonstrate the effectiveness of the organisation in all its activities,' said Hodge.