Why I'm confident the CBI can win back business backing: Brian McBride

The irony contained in the latter point is not lost on me.

Whilst striving to represent and support our members to the highest standards, we simultaneously underestimated the daily effort required to maintain a great culture and the operational excellence of a growing CBI.

The consequences of that failure, you already know.

We share a deep sense of responsibility to put things right.

The CBI has changed and is continuing to change, in order to do that.

So, what have we done in response?

Firstly, we asked Fox Williams, the independent and highly respected law firm, to investigate the specific allegations made as well as any broader learnings for the CBI.

They have made 34 recommendations to the CBI Board, which we have accepted in full.

The majority will be implemented by the time of our EGM.

Secondly, I have instigated a comprehensive review of the CBI’s governance, starting with the Board and its directors, the executive leadership and our mandate.

Some of the work is already complete and I have asked Ffion Hague, an expert in board evaluation and governance reviews, to continue this task, which will conclude within two months.

It will include a refresh of the Board and the leadership team.

Also, I will immediately start the search for my successor, which will take some time, and I expect to begin the transition no earlier than January 2024.

Thirdly, and equally important given what we have learned, we are undertaking a major review of the CBI’s culture.

Changing culture is, of course, a huge task that takes time.

Significant changes are already underway, and we are committed for the long haul.

The CBI team has completed a vast amount of work in these past few weeks, in the most difficult of circumstances, to undertake a substantial listening exercise with our members.

They have given us very powerful feedback about the unique role the CBI has to play in representing the interests of small, medium and large businesses, in every sector of the economy, throughout the UK.

Whilst we are all chastened by the events of the past 12 weeks, the feedback shared gives me, and our colleagues, real confidence that the CBI has played, and can continue to play, a very important and effective role at the vital tangent of business and politics, particularly as a General Election nears.

We have made very significant and fundamental changes and are determined to restore your confidence, and that of our many stakeholders, in the CBI.

With your support, I am confident we can do so.

Brian McBride is President of the CBI. This is an edited version of his remarks in the organisation’s A Renewed CBI prospectus, published ahead of next week’s Extraordinary General Meeting.