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New CBI boss says she is ‘profoundly sorry’ to women let down by group New CBI boss says she is ‘profoundly sorry’ to women let down by group
(32 minutes later)
Rain Newton-Smith’s tweets come on day she became director general at Confederation of British IndustryRain Newton-Smith’s tweets come on day she became director general at Confederation of British Industry
The new boss of the Confederation of British Industry has said she is “profoundly sorry” to women who have been let down by the business group.The new boss of the Confederation of British Industry has said she is “profoundly sorry” to women who have been let down by the business group.
Rain Newton-Smith, the CBI’s former chief economist who has also worked at the Bank of England, returned to the business lobby group after a brief spell at Barclays amid the fallout of a series of sexual misconduct allegations reported by the Guardian. Rain Newton-Smith, a former CBI chief economist who has also worked at the Bank of England, returned to the business lobby group amid the fallout of a series of sexual misconduct allegations reported by the Guardian.
On her first day as director general of the CBI, Newton-Smith said in a series of tweets that she also believed in the CBI’s work and was determined to “rebuild and reimagine” the organisation. On her first day as director general of the CBI, Newton-Smith said in a series of tweets she also believed in the CBI’s work and was determined to “rebuild and reimagine” the organisation.
“You will have heard about the crisis that has shocked & saddened us all at the CBI,” she wrote. “I want to recognise the courage of the women who came forward & say how profoundly sorry I am for how our organisation let you down. I hope to reward your bravery by finding a better path forward.”“You will have heard about the crisis that has shocked & saddened us all at the CBI,” she wrote. “I want to recognise the courage of the women who came forward & say how profoundly sorry I am for how our organisation let you down. I hope to reward your bravery by finding a better path forward.”
You will have heard about the crisis that has shocked & saddened us all at the CBI. I want to recognise the courage of the women who came forward & say how profoundly sorry I am for how our organisation let you down. I hope to reward your bravery by finding a better path forward.You will have heard about the crisis that has shocked & saddened us all at the CBI. I want to recognise the courage of the women who came forward & say how profoundly sorry I am for how our organisation let you down. I hope to reward your bravery by finding a better path forward.
Her comments came as Emma Walmsley, the boss of Britain’s second-biggest drugmaker, condemned the allegations of sexual misconduct that have thrown the future of the CBI into doubt as “extremely shocking” and “pretty repulsive”. The GSK chief executive spoke as the company reported its latest quarterly results. Her comments came as Emma Walmsley, the chief executive of GSK, Britain’s second-biggest drugmaker, condemned the allegations of sexual misconduct that have thrown the future of the CBI into doubt as “extremely shocking” and “pretty repulsive”. Walmsley spoke as GSK reported its latest quarterly results.
GSK and its fellow pharma firm AstraZeneca were among a wave of companies who suspended their CBI membership on Friday, while others, including Aviva, NatWest and John Lewis, went further and cut ties completely.GSK and its fellow pharma firm AstraZeneca were among a wave of companies who suspended their CBI membership on Friday, while others, including Aviva, NatWest and John Lewis, went further and cut ties completely.
The exodus came after the Guardian published fresh allegations of sexual misconduct at the group, including a woman who said she was raped by two male colleagues at the CBI. Later that day the CBI suspended all membership and policy activity until an extraordinary meeting in June, when members will vote on its future and purpose. The exodus came after the Guardian published fresh allegations of sexual misconduct at the lobby group, including a woman who said she was raped by two male colleagues at the CBI. Later that day the CBI suspended all membership and policy activity until an extraordinary meeting in June, when members will vote on its future and purpose.
The CBI’s president Brian McBride said in a letter to members on Monday that the group failed to “filter out culturally toxic people” from its ranks, leading to “terrible consequences” including allegations of sexual harassment. The CBI’s president, Brian McBride, said in a letter to members on Monday that the group failed to “filter out culturally toxic people” from its ranks, leading to “terrible consequences” including allegations of sexual harassment.
Walmsley was asked on Wednesday why GSK had only suspended and not terminated its CBI membership. She replied: “I want to reiterate for GSK and for me personally: we have a categoric zero-tolerance approach to any form of sexual harassment in the workplace or be it anywhere else.Walmsley was asked on Wednesday why GSK had only suspended and not terminated its CBI membership. She replied: “I want to reiterate for GSK and for me personally: we have a categoric zero-tolerance approach to any form of sexual harassment in the workplace or be it anywhere else.
“There’s no question that the allegations around the CBI are extremely shocking, pretty repulsive, and certainly I applaud wholeheartedly those who have the courage to speak up in a difficult environment.”“There’s no question that the allegations around the CBI are extremely shocking, pretty repulsive, and certainly I applaud wholeheartedly those who have the courage to speak up in a difficult environment.”
Walmsley said GSK would reassess its CBI membership in the coming months once the organisation has taken “corrective action”, adding: “They need and absolutely must implement steps to drive profound change at pace carefully and thoroughly.” Walmsley said GSK would reassess its CBI membership in the coming months once the organisation had taken “corrective action”, adding: “They need and absolutely must implement steps to drive profound change at pace carefully and thoroughly.”
McBride’s letter on Monday came after the law firm Fox Williams conducted a formal investigation and reported its conclusions and recommendations to the CBI board, including treating culture as a strategic issue and key business risk, training for all staff and a new reporting line to raise concerns.McBride’s letter on Monday came after the law firm Fox Williams conducted a formal investigation and reported its conclusions and recommendations to the CBI board, including treating culture as a strategic issue and key business risk, training for all staff and a new reporting line to raise concerns.
Newton-Smith replaces Tony Danker, who was sacked as director general after separate allegations of misconduct were made against him. Danker said in an interview with the BBC last week that he felt he had been “the fall guy” for allegations unrelated to his own conduct and that his reputation had been “trashed”. Newton-Smith, are a brief spell at Barclays, replaces Tony Danker, who was sacked as director general of the CBI after separate allegations of misconduct were made against him. Danker said in an interview with the BBC last week that he felt he had been “the fall guy” for allegations unrelated to his own conduct and that his reputation had been “trashed”.
GSK reported a 3% drop in first-quarter revenue because of a 98% fall in sales of its Covid-19 treatment Xevudy after the US regulator withdrew its authorisation for the drug and other antibody treatments in late January because they do not work on the new dominant strains of the virus. The drugmaker has decided to pull out of all its Covid antibody and vaccine projects. GSK reported a 3% drop in first-quarter revenue because of a 98% fall in sales of its Covid-19 treatment Xevudy after the US regulator withdrew its authorisation for the drug and other antibody treatments in late January because they did not work on the new dominant strains of the virus. The drugmaker has decided to pull out of all its Covid antibody and vaccine projects.
However, the results were better than analysts had expected and GSK stuck to its full-year outlook. Walmsley said it was only “days away” from getting US regulatory approval for its vaccine for RSV (respiratory syncytial virus) in older adults, which leads to thousands of hospitalisations and deaths each year.However, the results were better than analysts had expected and GSK stuck to its full-year outlook. Walmsley said it was only “days away” from getting US regulatory approval for its vaccine for RSV (respiratory syncytial virus) in older adults, which leads to thousands of hospitalisations and deaths each year.