Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

CBI finalises plans for crucial vote on business group’s future

by May 25, 2023
May 25, 2023
CBI finalises plans for crucial vote on business group’s future

Scores of companies who have suspended their membership of the CBI will be allowed to vote on the business lobby group’s future at a crucial meeting next month.

It is understood that the CBI will permit companies including AstraZeneca, BP, Marks & Spencer, Rolls-Royce Holdings and PricewaterhouseCoopers to participate in a ballot on 6 June.

Sources said that CBI members would be issued with a prospectus next week to set out the agenda for its extraordinary general meeting (EGM) and its blueprint for a renaissance after the misconduct scandal which has thrown its survival into doubt.

Dozens of members – including Aviva, John Lewis Partnership, Kingfisher and NatWest Group – cancelled their subscriptions to the CBI last month and will not be eligible to vote on its future.

The poll will be conducted on a ‘one member, one vote’ basis, regardless of a company’s size or subscription fee.

Insiders said on Thursday that the group was drawing up proposals for a slimmed-down organisation that would inevitably result in some redundancies among its workforce.

The CBI sacked its director-general, Tony Danker, last month, saying it no longer had confidence in his ability to lead it amid allegations of personal misconduct.

Far graver claims, including in relation to serious sexual assault by CBI employees against colleagues, do not relate to Mr Danker.

Rain Newton-Smith (pictured), Mr Danker’s successor, has vowed to lead the CBI’s rebirth, and has said it is likely to involve changing the group’s name.

The scandal has also ensnared the CBI’s former president, John Allan, who acknowledged making an inappropriate comment to a colleague and has since stepped down early as chair of Tesco and Barratt Developments amid allegations – which he strongly denies – about his behaviour.

The CBI declined to comment on Thursday.

Read more:
CBI finalises plans for crucial vote on business group’s future

0
FacebookTwitterGoogle +Pinterest
previous post
Starling Bank chief Anne Boden to step down after announcing six-fold profits increase
next post
Germany tips into recession with analysts warning economy won’t get much better

You may also like

Reeves considers ending salary sacrifice tax breaks for...

October 18, 2024

UK tech tycoon Mike Lynch loses bid to...

April 21, 2023

Brexit has failed, Macron to tell Britain

February 3, 2025

Bank of England Hints at Potential Interest Rate...

June 20, 2024

Needs Accounts Filed Overseas? A Simple Guide

January 18, 2024

UK steel firms on edge as US tariff...

July 8, 2025

Govia Thameslink launches cheaper fares on Mondays to...

February 16, 2023

‘HMRC won’t speak to us’: exporters frustrated by...

May 19, 2025

Huge boom in over 50 year old entrepreneurs...

March 12, 2024

How to do a great holiday handover

July 26, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • PPE Medpro trial ends with defence accusing DHSC of ‘bad claim’ and pandemic scapegoating

      July 11, 2025
    • MPs warn UK must not weaken listing rules for Shein amid human rights concerns

      July 11, 2025
    • UK economy shrinks again in May, fuelling fears of faltering recovery

      July 11, 2025
    • UK government considers rescue deal for Speciality Steel amid fears of collapse

      July 11, 2025
    • Poundland faces stock shortages as big brands tighten terms following £1 sale

      July 11, 2025
    • Sandbanks bubble bursts as buyers flee Labour’s ‘tax bombs’ for sunnier shores

      July 11, 2025

    Categories

    • Business (8,450)
    • Investing (2,115)
    • Politics (16,003)
    • Stocks (3,199)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved