He is a Senior Adviser to Kohlberg Kravis and Roberts & Co. LP, including Chair of Upfield and a member of the Board of Wella. He is also a Visiting Fellow of the Saïd Business School, University of Oxford. He was previously Chair of BAE Systems, Centrica plc, Vice Chair of the BBC Trust, Deputy Chair and Senior Independent Non-Executive Director of the Court of the Bank of England, President of the Confederation of British Industry, Vice President of the Royal Navy and Royal Marines Charity, Chair of Cadbury plc, Chair of Chubb plc, Chair of Mitchells & Butlers plc, Chair of Thames Water plc, Chair of the English National Ballet, and CEO of Williams plc.