CBI ‘may not survive’ after sex scandal, admits vice president Lord Bilimoria
CBI ‘might not survive’ after sex and drug scandal admits Vice President Lord Bilimoria
The vice president of the CBI has admitted it “might not survive” after being rocked by a harassment and misconduct scandal.
Lord Bilimoria is a staunch advocate of the CBI’s work – especially in supporting businesses during the pandemic – and says it is still needed.
But his comments last night that cast doubt on the future expose the magnitude of the challenge facing new Director General Rain Newton-Smith – on her first day in the role.
Fear: Lord Bilimoria is a staunch advocate of the CBI’s work – especially in supporting businesses during the pandemic – and says it is still needed
Bilimoria, a crossbench colleague and founder of Cobra beer, served as president of the company’s organization from 2020 to 2022. He insisted he had “no idea about any issues that have come out now.”
He told LBC: ‘Of course there is a chance it may not survive, because the situation we’ve been dealing with over the past few weeks has been absolutely horrific.
“I can understand how everyone feels because what happened is absolutely shocking.”
It came as the CBI’s new boss said she was “deeply sorry” when the lobby group faced a new barrage of criticism in the wake of the sex and drug scandal.
Rain Newton-Smith, a former CBI economist, returned as director general yesterday.
She took over from Tony Danker, who was abruptly fired following allegations of inappropriate behavior by him towards several female employees.
On Twitter, Newton-Smith said the crisis had “shocked and saddened us all,” adding: “I want to acknowledge the courage of the women who came forward and say how deeply I am sorry our organization has failed you .
“I hope to reward your courage by finding a better way forward,” she said. “We know there is so much to do to regain the trust of our members, our colleagues and wider society.
“I believe in the work of CBI and our people, and I am committed to rebuilding and reshaping our organization.”
The statement came amid reports that the CBI may have to cut jobs unless its members return – after a mass exodus of companies has choked out most of its £25m annual income.
In a further sign of how difficult that can be, GSK boss Emma Walmsley said: “There is no doubt that the allegations surrounding the CBI are extremely shocking and quite abhorrent and I wholeheartedly applaud those who have had the courage to speak out. to speak in a difficult situation. environment.’