The chief executive of the Royal Opera House and the BBC's former director of news, Tony Hall, has been appointed the corporation's new director general.

The full BBC Trust statement is here.

"Lord Hall is expected to start in early March and in the interim period Tim Davie will remain as Acting Director-General."

Also from the "Notes to Editors"

The appointment is a permanent contract.
The package consists of a basic salary and access to the BBC's standard pension arrangements. But Lord Hall is already a BBC pensioner and will not benefit from any further pension payment. There is no variable component to the pay.
The Trust did not newly engage an executive search firm for this appointment. However, Trustees have been advised on an unpaid basis by Egon Zehnder who carried out the original search for a Director-General earlier this year.
George Entwistle was appointed as Director-General of the BBC on a salary of £450,000 per year. Tim Davie is being paid at the same rate.