Meeting date: 13 November 2024

Venue: In the Cabot, London, and by video conference.

Members present 

• Marcus Bokkerink (Chair)

• Justin Basini

• Sarah Cardell (CEO)

• Martin Coleman

• Frank Dangeard

• Will Hayter

• Dame Patricia Hodgson

• Daniel Lambauer ^{[footnote 1]}

• Cyrus Mehta ^{[footnote 2]}

• Murdoch MacLennan

Advisers present

• Juliette Enser, Interim Executive Director for Competition Enforcement
• Jessica Lennard, Chief Strategy and External Affairs Officer
• George Lusty, Interim Executive Director for Consumer Protection and Markets
• Chris Prevett, General Counsel
• Mike Walker, Chief Economic Adviser

Apologies

• Cynthia Dubin
• Dharmash Mistry
• Joel Bamford

CMA staff present

• Kate Bridge, Director of Executive Office, Security, and Property ^{[footnote 1]}
• Board Secretary, Minutes

Teams

The meeting was attended by teams from across the CMA.

Minutes

The Board approved the minutes from the meeting of the Board on 15 October 2024, with no changes.

1. Introduction

The Chair welcomed the Board members to the meeting.

2. Major developments in the external environment in which we operate

The Chair and CEO updated the Board on recent stakeholder engagement.

Strategy, Portfolio and Risk

3. CEO Update

The Board was updated on and discussed recent developments in the CMA’s portfolio and risk profile and recent engagement with Government. The Board also reviewed the corporate risk register and the external guidance tracker.

4. Spending review 2025 and budget update

The Board discussed the outcome of the phase 1 Spending Review 2025 position for the CMA, and was updated on the implications for staffing, operations and the portfolio of work.

5. Digital Markets Board Committee update

The Chair updated the Board on the items discussed at the DMBC on 6 November 24.

6. Industrial strategy green paper and the CMA’s response

The Board reviewed the government’s industrial strategy green paper, discussed the importance of the CMA’s work to fostering economic growth, and gave its perspectives on the CMA’s draft response. It highlighted that competition spurs innovation, productivity, investment, and growth; that the CMA’s pro-competition actions help drive greater innovation, productivity, investment and growth; and that competition policy is an integral part of an industrial strategy that aims to raise economic growth effectively. It guided that the CMA’s response should also be clear that pro-competition action and the CMA’s work as a whole helps enable the benefits of growth to be realised more broadly across the economy and brings better choice and value for money for customers.

Policy and cases

7. CEO update

The CEO updated the Board on policy developments and casework.

People and Business

8. CEO update

The CEO updated the Board on operational matters.

9. Remuneration Committee Terms of Reference

The Board reviewed, adapted and agreed the proposed changes to the RemCo Terms of Reference, subject to some drafting changes.

10. AOB

DMU update November 24.

The Board noted this update presented for information.