Former chair of Wates Construction takes role

The CBI has appointed Paul Drechsler CBE as president at its AGM in London, succeeding Sir Mike Rake, chairman of BT Group.

Former chief executive of construction firm Wates, Drechsler is chairman of the Bibby Line Group and chairman of the board of Teach First.

Speaking about his appointment, Drechsler said: ““It is a great honour to be appointed CBI president at this important time for the United Kingdom’s economy.

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“Sir Mike has been an outstanding president, helping to steer the business agenda through some challenging waters and proudly championing issues like equipping our young people with the right skills and education to succeed, the strength of the UK’s internal market and the benefits of our relationship with Europe.

“I’m looking forward to getting my feet under the desk, helping to power productivity and making sure our young people get the right education and skills to help them succeed in the economy of the twenty-first century. We also want to see a stronger UK at the top table of a reformed EU and to help people in all parts of the country feel the real benefits of growth.

“The CBI will have an important role to play in shaping well-informed public debate on business issues. I look forward to carrying Sir Mike’s work forward, and to working with all my new colleagues to make sure the voice of business continues to be plainly heard.”

CBI director-general John Cridland said: ““It’s a great pleasure to welcome Paul to the CBI as our new president. His passion and excitement for the world of business, coupled with the breadth of his experience, from Britain to Brazil, will be of tremendous value to us.”