Closing post
That’s all for today, after a tumultuous day in the British business world that has left the Confederation of British Industry’s future in serious doubt.
The day began with the news that a woman has alleged that she was raped by two male colleagues when she worked at the Confederation of British Industry.
My colleague Anna Isaac reported that:
The woman told the Guardian the incident took place when she was employed at an overseas office of Britain’s most prominent business lobby group.
She said she blamed the culture at the CBI for having no support after what she claims happened to her.
The latest news of misconduct at the CBI triggered some of Britain’s biggest businesses to quit their membership, starting with Aviva and quickly spreading to include major names including John Lewis, NatWest, Virgin Media O2 and Kingfisher.
After a day of unrelenting pressure, the CBI announced it will mothball its operations until June, when members will vote on its future and purpose at an extraordinary meeting.
The news has left Britain’s business leaders questioning whether the CBI should be reinvented, or replaced.
Mujtaba Rahman, European managing director at Eurasia Group, describes the CBI as being in ‘total free fall’ after so many big names quit their membership or suspended work:
CBI in total free fall https://t.co/5DHEgn9MJc@pmdfoster pic.twitter.com/RYIEja6DOF
— Mujtaba Rahman (@Mij_Europe) April 21, 2023
