Aviva, the FTSE 100 insurer, says it has “terminated” its membership of the CBI due to the scandal engulfing the business lobby group and its handling of the crisis.
The dramatic development was revealed just moments after Sky News reported that abrdn, the major fund manager, was also considering its position with the organisation.
Aviva announced its decision as the Guardian newspaper reported that a second woman had made a rape allegation against two male co-workers, building on the series of historic serious misconduct claims to have engulfed the CBI in recent weeks.
“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,”, Aviva said.
“We have therefore regrettably terminated our membership with immediate effect.”