CBI president Brian McBride is stepping down earlier than planned as part of an overhaul of the leadership of the embattled group.

A successor is being sought for Mr McBride, a former director of Celtic Football Club, with the handover due in the new year.

The move was announced as the lobby group’s new director-general Rain Newton-Smith admitted that next week’s vote on its plans to renew its corporate governance guidelines is “critical” in the wake of sexual misconduct allegations.

In a statement to the media the CBI said it has spoken to more than 1,000 firms in recent weeks as it fights to revive its credibility as the a voice of business.

The misconduct claims have resulted in some of the big names of its 190,000 membership leaving, including household names John Lewis and BMW. Others such as Tesco and Sainsbury’s have also suspended engagement with the group.

The government has also paused activity with the CBI. Chancellor Jeremy Hunt has said there was “no point” working with the lobby group when its own members had deserted it.

Members will vote at an extraordinary general meeting on Tuesday on the CBI’s prospectus, A Renewed CBI – for our Members, our Stakeholders and our People is the result of extensive work in the weeks since the group paused activity, in which businesses, stakeholders, colleagues and external experts have all been involved in drawing up the proposed changes. 

Ms Newton-Smith said: “Our members and colleagues have spoken. We have listened, we have acted and we are taking accountability. An accelerated programme of change on people, governance and culture is already underway with a more focused, collaborative approach on our purpose lifting up the voices of our members.

“A renewed CBI can once again have a voice on the serious economic challenges the UK faces, with a General Election approaching at pace.”