Top 10%: Sir Adrian Cadbury

“Our regime does not work in the interests of most people. We need politicians who will listen to the views and ideas of those on the ground, who are living with the situation – and then act on their findings.” 

Adrian Cadbury, a pioneer in raising awareness and stimulating debate on corporate governance, chaired the Committee on The Financial Aspects of Corporate Governance (commonly known as the Cadbury Committee) between 1991 and 1995, which published its Report and Code of Best Practice in December 1992. 

Less well-known is his work supporting many regional initiatives. One is the setting up and chairing the Aston Commission – no doubt inspired by his work with the Birmingham Settlement in Newtown. It was set up to listen to those living in the area who had become disillusioned with the political system, feeling that there was no point in turning out to vote for people who made promises which were never kept. 

The Aston Reinvestment Trust 

They were asked what should be done to make Aston Newtown a better place in which to live. Several issues were raised and action was taken. One problem expressed was that people in the area were unable to get bank loans to start or improve businesses because they had no form of security to offer. Sir Adrian, Pat Conaty and others, with considerable difficulty, set up the Aston Reinvestment Trust, [ART] the first in the country. This is a revolving fund: when loans are repaid the money can help another business. Profit is reinvested in the company. Over the years it has created or retained nearly 2000 jobs in the city. 

Birmingham’s Democracy Commission - localisation

Birmingham’s Democracy Commission was set up to find out why so few people were voting in this area of high unemployment. One recommendation was to change the current situation in which central government has assumed control of 80% of the city’s budget, determining not only its size but the precise disposition of these funds, leaving little scope for local government. Westminster should loosen its grip on spending and decision-making, and local government to devolve decision-making to those closest to the issues. Another important aspect of restoring an active democracy, he said, was to build up the capacities of local people to make decisions.

Devolution

He cited European precedents, including the devolutionary steps taken by the French thirty years ago and the extent of the responsibilities exercised by the mayors of Lille and Barcelona, concluding that constitutional means must be found to reverse centralism – one being the move toward regional government: “We all have a responsibility to encourage this and say that we shall place our votes with those supporting such policies.” 

The majority of Cadbury-Schweppes family shares went to a range of Cadbury charitable trusts 

When Cadbury-Schweppes was publicly quoted in 1962, the great majority of the company’s shares were held by Cadbury charitable trusts and retained after the quotation. Those trusts continue to follow the principles of their founders to the benefit of the community. 

Adrian Cadbury is making a fine contribution to the greater good – other ten-per-centers please note!