Misconduct claims tipped CBI into ‘near death experience’, says president

Rupert Soames says Guardian revelations over sexual misconduct claims were appalling shock' but is bullish about the future

• CBI settles legal action with ex-chief Tony Danker

The new president of the Confederation of British Industry has admitted the Guardian's revelations of sexual misconduct were an appalling shock" that tipped the lobbying group into a near-death experience''.

Rupert Soames, the City grandee recently appointed president of the CBI, said that this newspaper's revelations about sexual misconduct at the organisation had triggered an existential crisis - one he is trying to rescue it from.