Founder and chairman of Cobra Beer, Lord Karan Bilimoria of Chelsea, has been confirmed as the CBI's new vice president at the AGM of the business membership organisation.
Paul Drechsler has now stepped down as vice president and from the CBI board after six years’ tenure.
Meanwhile, John Allan, who roles include chairing Tesco, returns as president for a second one-year term.
Nearly 90% of AGM participants backed Lord Bilimoria’s nomination.
Lord Bilimoria founded Cobra Beer in 1989. He is also founding chairman on the UK-India Business Council.
On Lord Bilimoria’s election Mr Allan, said: “We are lucky to have such a well-respected entrepreneur whose experiences reflect both the highs and lows of starting and growing a business.”
On Mr Allan’s re-election, director-general of the CBI, Carolyn Fairbairn, said: “I would like to thank John for bringing to bear his experience and expert guidance across all areas of CBI policy since becoming President, and look forward to another year of close collaboration.”
Lord Bilimoria is being tipped as a potential front runner to replace Mr Allan, when he steps down as president after his one year term.
Mr Drechsler said: “In more than six years on the CBI’s board I have been lucky enough to work alongside some fantastic colleagues who work hard every day to help business create a more prosperous and inclusive society."
