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'Teflon Terry' to take the reins as C4 chairman

ABBEY National chairman Sir Terry Burns is expected to be the new chairman of state-owned Channel 4, with Ofcom set to make an announcement imminently.<br /><br />The former permanent secretary to the Treasury is understood to be the watchdog&rsquo;s choice to replace Luke Johnson, who steps down in January.<br /><br />Burns is also said to be Whitehall&rsquo;s favourite for the role, with other contenders thought to be former ITV chief Richard Eyre and Labour peer Lord Waheed Alli.<br /><br />In 2005, &ldquo;Teflon Terry&rdquo; &ndash; a nickname deriving from his track record of shrugging off controversy such as the pound&rsquo;s humiliating exit from the european exchange rate mechanism &ndash; carried out a review of the BBC&rsquo;s role for the then culture secretary Tessa Jowell. <br /><br />His report recommended replacing the BBC board of governors with a public service broadcasting (PSB) commission and &ldquo;top-slicing&rdquo; the BBC.