The Confederation of British Industry (CBI), a prominent business lobbying group, is set to announce Cressida Hogg, the current chair of BAE Systems, as its next president. Hogg is expected to take the helm early next year, serving until 2028. This appointment marks a significant moment, potentially completing an all-female leadership duo at the top of the organisation, with Rain Newton-Smith serving as CBI chief executive.
Key Takeaways
- Cressida Hogg, BAE Systems chair, is poised to become the next president of the CBI.
- Her tenure is expected to last until 2028, succeeding Rupert Soames.
- The appointment signifies a potential all-female leadership at the top of the CBI.
- Hogg brings extensive experience in finance and infrastructure, seen as an asset for boosting UK investment.
A New Era for the CBI
Cressida Hogg, who also holds a board position at the London Stock Exchange’s parent company, has been selected to succeed Rupert Soames. Soames, who joined the CBI in 2023 to help stabilise the organisation amid a severe crisis, will step down. Hogg’s background includes a previous role at the private equity group 3i and significant experience in pension fund and infrastructure sectors. This expertise is viewed as particularly valuable as the government, under Chancellor Rachel Reeves, focuses on enhancing investment within the UK economy.
Navigating Challenges
The CBI has been on a path to recovery following a tumultuous period marked by a sexual misconduct scandal that led to a significant exodus of members and financial difficulties. Rain Newton-Smith was appointed chief executive in 2023 to steer the organisation through this crisis. Rupert Soames was brought in the same year to aid in its stabilisation. Their efforts have seen some companies, including KPMG and NatWest, return to the CBI fold, and have begun to restore some of the group’s influence in Whitehall, though its former status as "the voice of business" remains a subject of debate.
Hogg’s Extensive Experience
Beyond her role at BAE Systems, Hogg has a distinguished career, having chaired the property company Land Securities Group and served as a non-executive director for companies such as Associated British Ports and Anglian Water. Sources close to the CBI have described her recruitment as a "coup," highlighting the value placed on her extensive experience. The CBI had engaged headhunter Egon Zehnder in its search for Soames’s successor. Hogg’s appointment will be subject to election by CBI members at their next annual meeting in 2026.
