{"id":91312,"date":"2023-04-14T09:24:04","date_gmt":"2023-04-14T09:24:04","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2023\/04\/14\/cbi-is-no-longer-relevant-in-its-current-form-says-ex-barclays-director\/"},"modified":"2023-04-14T09:24:04","modified_gmt":"2023-04-14T09:24:04","slug":"cbi-is-no-longer-relevant-in-its-current-form-says-ex-barclays-director","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2023\/04\/14\/cbi-is-no-longer-relevant-in-its-current-form-says-ex-barclays-director\/","title":{"rendered":"CBI is no longer relevant in its current form, says ex-Barclays director"},"content":{"rendered":"
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According to Baroness Wheatcroft, former director of Barclays, the CBI is outdated and no longer serving its purpose.<\/b><\/p>\n<\/div>\n

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The peer said it was “increasingly difficult” for the corporate lobby to represent both Amazon and a small manufacturing company.<\/p>\n<\/div>\n

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The CBI and its future are in the spotlight after allegations of wrongdoing, including sexual assault. <\/p>\n<\/div>\n

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The City of London Police are investigating a number of allegations.<\/p>\n<\/div>\n

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Three CBI employees have been suspended while claims are reviewed.<\/p>\n<\/div>\n

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The BBC has reached out to the CBI for comment.<\/p>\n<\/div>\n

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Baroness Wheatcroft, who is also former editor-in-chief of the Wall Street Journal Europe, told BBC Radio 4 Today that the CBI “can probably survive, but in a reduced form”.<\/p>\n<\/div>\n

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“Should it survive? I think its time has probably passed honestly,” she said.<\/p>\n<\/div>\n

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“It’s becoming increasingly difficult to represent the wide spread of members they claim to be and I think the interests of Amazon and a small manufacturing company in the north of England are so different now that they’re under one roof with the accountants and advisers have to stand and the banks really don’t make sense and longer,” she said.<\/p>\n<\/div>\n

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Some major UK companies have told the BBC they are “deeply concerned” by the allegations the CBI is facing.<\/p>\n<\/div>\n

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Some said they would wait until an investigation into the claims by law firm Fox Williams was completed before making a decision on her membership of the CBI.<\/p>\n<\/div>\n

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Meanwhile, the government has suspended all cooperation with the CBI until the Fox Williams investigation is completed. <\/p>\n<\/div>\n

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Baroness Wheatcroft said that the CBI’s original purpose was “to be a voice to trumpet the need for business and corporations as a force for good”. <\/p>\n<\/div>\n

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However, she questioned the CBI’s current ability to direct corporations on how to be a force for good.<\/p>\n<\/div>\n

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She added that it’s important not to judge claims against the CBI, the most serious of which date back to a summer boat party in 2019, adding that they are “unproven” so far.<\/p>\n<\/div>\n

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Separately, the CBI fired its general manager Tony Danker this week after a complaint from a female employee in January and allegations from other employees that surfaced last month.<\/p>\n<\/div>\n

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Mr Danker is not charged with the allegations which the City of London Police are investigating. <\/p>\n<\/div>\n

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According to an investigation by Fox Williams, it was found that his behavior fell short of the general manager’s expectations.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

According to Baroness Wheatcroft, former director of Barclays, the CBI is outdated and no longer serving its purpose. The peer said it was “increasingly difficult” for the corporate lobby to represent both Amazon and a small manufacturing company. The CBI and its future are in the spotlight after allegations of wrongdoing, including sexual assault. The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-91312","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nCBI is no longer relevant in its current form, says ex-Barclays director - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2023\/04\/14\/cbi-is-no-longer-relevant-in-its-current-form-says-ex-barclays-director\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBI is no longer relevant in its current form, says ex-Barclays director\" \/>\n<meta property=\"og:description\" content=\"According to Baroness Wheatcroft, former director of Barclays, the CBI is outdated and no longer serving its purpose. 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