Britain's CBI boss to step down in 2011
The boss of Britain's biggest employers' organisation, the Confederation of British Industry, will step down next year, it announced on Tuesday.
CBI director-general Richard Lambert will leave "in early 2011" after nearly five years at the helm, the influential business lobby said in a statement.
"Now is the right time in the political and economic cycle for me to hand over to a new director-general," said Lambert in comments accompanying the release.
"The CBI is in good shape, with much to do on behalf of its members. The new government is in place, and is generating a huge range of policy issues which the CBI is getting stuck into.
"And the economy is moving into a new phase, in which business investment and trade will be the essential engines of recovery."
The CBI is the country's largest employers' association, representing around 240,000 companies.
Lambert's tenure at the CBI was dominated by the fallout from the international credit crunch and Britain's record-length recession that ended late last year.
CBI President Helen Alexander paid tribute to Lambert's stewardship of the organisation.
"The CBI has been privileged to have Richard as director-general," said Alexander.
"As business was in the eye of the storm during the credit crunch and the recession, his experience and wise counsel proved invaluable.
"He is a wonderful advocate for UK business, his insight and good humour make him a great colleague, and planning his succession is important."
The CBI added that it has appointed headhunters to search for Lambert's successor.
Lambert, who was appointed CBI director-general in July 2006, was formerly editor of the Financial Times business newspaper for 10 years.
He was also a member of the Bank of England's interest-rate setting panel, the Monetary Policy Committee, between 2003 and 2006.
© 2010 AFP