Telecoms big Virgin Media O2 has additionally cancelled its membership of the CBI as a result of “disturbing” allegations of rape on the organisation.
The spokesman for the corporate mentioned: “While we respect the continued investigations going down, these disturbing allegations and the way in which the scenario has been dealt with is just not consultant of enterprise in Britain.
“We have due to this fact knowledgeable the CBI that we’re ending our membership.”
It is known VMO2 had been planning to let its membership lapse, however opted as an alternative to drag out after the newest revelations.
Meanwhile, Guinness and Smirnoff proprietor Diageo has paused engagement with the CBI as it awaits the findings of the continued investigation, The Telegraph understands.
It follows the departure of Phoenix Group and Aviva, each FTSE 100 firms, which introduced their departure on Friday, elevating questions in regards to the future viability of the CBI.
Aviva additionally criticised how Britain’s largest enterprise foyer group dealt with the sexual misconduct scandal in latest weeks.
It mentioned: “In light of the very serious allegations made, and the CBI’s handling of the process and response, we believe the CBI is no longer able to fulfil its core function – to be a representative voice of business in the UK. We have therefore regrettably terminated our membership with immediate effect.”
The insurers have been joined by Zurich UK, Vitality, the People’s Partnership and the commerce group the Association of British Insurers have been all reported to have terminated their memberships.
FTSE 100 fund supervisor Abrdn can also be weighing plans to cancel its CBI membership, Sky News reported. Brian McBride, the CBI’s president, sits on Abrdn’s board of administrators. National Grid, Shell and Asda have been all mentioned to have paused engagement.