The CII is planning to establish a new board as part of a new approach to corporate governance.

The board will take responsibility for strengthening accountability and increasing membership engagement. It will perform a similar function to a board of directors in a limited liability company and will include elected members, lay members, consumer representatives and industry specialists.

The CII's existing Council will assume a representative role.

The proposals are subject to final approval from CII members following a series of roadshows later this year.

CII president Peter Hales said: “We took the decision to carry out this review of our governance as the CII has progressed rapidly – establishing our range of faculties, delivering numerous initiatives and expanding overseas – since the last review five years ago. We are now a professional body with nearly 90,000 members and we need a structure that is appropriate for the governance of a major professional body.”