Bosses' Union Kicks Off Hunt For New Chief

The Institute of Directors (IoD) has kicked off a search for a new director-general as Simon Walker prepares to step down next year.

Sky News has learnt that the IoD - often referred to as the bosses' union - will appoint headhunters in the next few weeks to undertake a wide search for its next supremo.

Mr Walker, whose term expires next October, has been director-general of the influential business lobbying group since the autumn of 2011.

He has steered the IoD to a position of financial stability and overseen a number of prominent - and often provocative - campaigns during a period when public mistrust in big business has clouded the private sector's contribution to Britain's economic recovery.

Among the IoD's myriad public remarks on economic and political issues, Mr Walker's complaints about bonuses at Barclays (LSE: BARC.L - news) and in the banking sector more generally struck a chord and antagonised his membership in equal measure.

He has been similarly outspoken on subjects such as immigration and tax avoidance, and on industry-specific issues such as smart metering in the energy sector.

Mr Walker has tried to diversify the IoD's membership, revamping its headquarters on Pall Mall in Central London as well as its previously stuffy dress code.

Sources said on Thursday that a recruitment advertisement was likely to be placed in national newspapers in the coming weeks.

Lady Judge, the IoD's chairman, will oversee the search for a new director-general.

Mr Walker has urged David Cameron to hold the referendum on Britain's membership of the European Union (EU) as quickly as possible.

"It (Other OTC: ITGL - news) is almost inevitable that the more time passes before a referendum takes place, the more of [Mr] Cameron's political capital will be gobbled up," Mr Walker said during the summer.

"The referendum will then become a poll on what the public thinks of the party in power, not a verdict on the positives and negatives of being part of the EU."

A one-time Labour Party activist in New Zealand, Mr Walker has held a string of high-profile roles, including running the private equity industry's trade body and as communications director at Buckingham Palace.

He also served in Sir John Major's policy unit during his period as Prime Minister.

In a statement issued to Sky News, the IoD said: "Simon's term will come to an end in October 2016 and we have begun the process of looking for his successor."