Confederation of British Industry director general Richard Lambert is to step down from the lobbying organisation early next year.
Lambert was appointed in 2006 for a five year term and says it is the right time in the political and economic cycle to hand over to someone new.
He says: “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.
“I have no definite plans at the moment, but will be looking for interesting things to do.”
CBI president Helen Alexander says: “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.”