UK's CBI business association names BAE Systems chair as president

LONDON (Reuters) -The Confederation of British Industry said on Wednesday that the chair of defence company BAE Systems, Cressida Hogg, will be its next president, succeeding Rupert Soames, a grandson of Winston Churchill with a long career in British industry.

Hogg, who will take up the role on January 1, also serves on the board of the London Stock Exchange Group and is a member of a public body that oversees takeovers of British listed companies.

"Whilst this is a challenging time for business, it is also one of opportunity," Hogg said in a statement.

"I look forward to working with the CBI team as we help government achieve our common objectives of making the UK a high-growth economy, attracting the investment needed to drive global competitiveness and increased productivity," she added.

Soames, who was appointed in December 2023 after the CBI's future came into question due to a string of sexual assault allegations, was previously chief executive of outsourcing company Serco.

(Reporting by Sam Tabahriti; editing by David Milliken)