Leading female peer declares CBI’s ‘time has probably passed’

A female colleague has delivered a damning verdict on the future of the embattled CBI, saying “time is probably over.”

Baroness Wheatcroft, a former editor of the Wall Street Journal Europe who later became a director of Barclays Bank, said: “I think every member should ask themselves whether it is the best use of shareholder or company money to be a CBI member and whether they can do that. more effective in other ways.’

The CBI this week fired Director General Tony Danker following allegations of sexual harassment against him.

Further allegations, including rape from 2019 that have also emerged, unrelated to Danker, are being investigated by police.

That has emboldened critics who say the 58-year-old organization — which claims to represent 190,000 members — has become an outdated talking club.

Wheatcroft, 71, told the BBC: ‘I think it can probably survive. Should it survive? I think his time is probably over, to be honest.’

She said it “doesn’t make sense anymore” to put a wide variety of companies, from banks and multinationals to small regional companies, “under the same umbrella.”

And she joked, “I’ve looked at their website and if it comes up with hackneyed phrases like ‘We’re redefining business as usual,’ they certainly will.”

In addition to Danker, the CBI also replaced three other employees and launched a root and branch investigation into his culture.