A hot favourite is Chris Banks, chairman of the young people's committee of the LSC. Mr Banks has worked as managing director of another outfit which is very popular with young people - Coca-Cola UK.
He now runs his own drinks distribution firm, Big Thoughts, which is thought to have kept him away from the chief executive's job at the LSC last year. But the chairman's post should only take up two days a week.
It is thought the LSC will be keen to replace Mr Sanderson, chairman of Bupa, the healthcare provider, with another business figure. So Mr Banks's counterpart on the adult learners' committee, John Monks, former general secretary of the Trades Union Congress, looks an unlikely contender.
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