Former Conservative cabinet minister Lord Wakeham stepped down as chairman of media watchdog the Press Complaints Commission (PCC) because of his Enron links.
The Tory peer, famed as a political fixer, described the temporary move as a “matter of honour” while questions remained about his role with the energy giant.
As a non-executive director of Enron, Lord Wakeham sat on the company’s audit committee, the very part of the company at the heart of the scandal and which was supposed to protect shareholders’ interests.
Now he says he does not want the PCC to be damaged by short-term speculation over his Enron role.
Lord Wakeham has not been summoned to appear before any formal inquiry hearing about Enron’s collapse but says he is actively co-operating with the investigations and has flown to New York to meet his lawyers.