Sir Mike Rake to become CBI president

It has been announced that Sir Mike Rake will become president of the CBI in June, replacing outgoing Sir Roger Carr. Sir Mike is currently chairman at BT and Barclays. He recently stepped down as EasyJet Chairman as the company's founder Sir Stelios Haji-Ioannou was concerned that he was spreading his time too thin. Marc Sidwell wrote on his departure:

The rule that used to explicitly forbid holding two FTSE 100 chairmanships was changed in 2010. However, the rule does still provide that individuals must have the necessary time and resources before taking on multiple blue chip chairmanships. There are only so many hours, even in Mike Rake’s day.

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