New BCA president Geoff Culbert to rebuild trust after failed voice referendum, soaring power bills

The BCA has tapped former Sydney Airport CEO Geoff Culbert, who says businesses carry a big responsibility in tackling climate change and the cost of living.

Former Sydney Airport CEO Geoff Culbert says he is honoured to be appointed the next president of the BCA. Picture: Justin Lloyd.

Former Sydney Airport chief executive Geoff Culbert has been named the Business Council of Australia’s next president.

And among his priorities will be winning back trust after executives misread the public mood over the voice referendum and the nation’s renewable energy transition falters, sending power bills soaring.

In a statement, Mr Culbert said the business community carried a “big responsibility” in tackling climate change, the cost of living and ensuring Australia maintained its global competitiveness.

Business leaders were quick to praise the appointment, describing Mr Culbert as a “calm” operator, who could forge relationships with both sides of politics and communicate strategy clearly to the broader public.

He will start in the role in February, succeeding Tim Reed.

Ann Sherry says businesses need to rebuild public trust and Geoff Culbert is the right man for the job.

Current BCA president Tim Reed will hand over the reins to Geoff Culbert in February.

NAB director and corporate heavyweight Ann Sherry worked alongside Mr Culbert when she was on the board of Sydney Airport. She said he successfully steered the airport through the Covid-19 pandemic and a $23.6bn takeover from a consortium led by the US Global Infrastructure Partners and IFM Investors.

“There was so much complexity in that role and Geoff was calm. It doesn’t matter how big the problem is ahead, he will bring people together and find a logical position to go forward,” Ms Sherry said.

These skills would need to come to the fore when he assumes the BCA presidency, Ms Sherry said, saying regaining public trust among the nation’s businesses would be one of his top priorities.

Executives at most of Australia’s top companies publicly endorsed the voice referendum and ploughed millions of shareholder dollars into the Yes campaign, despite more than 60 per cent of the public voting against it – exposing a gulf between the nation’s boardrooms and the broader population.

Meanwhile the renewable energy transition – which many businesses have also advocated as part of their social, environmental and governance obligations – has sent household power bills soaring, adding to cost-of-living pain.

“I do think trust in business is a big issue,” Ms Sherry said. “The idea that we’re going to suddenly swap to renewable energy is great, except nobody said at the beginning, ‘by the way your bills are going to double’.

“So I think it’s about how do you articulate a future that people want to be part of. If there are any lessons out of the environmental issues or the voice, or anything that’s happening at the moment, you can’t argue for big change if it’s not clear where it takes you.

“And Geoff can articulate that and can bring people along.”

Before joining Sydney Airport in 2018, Mr Culbert – a lawyer – held senior roles at General Electric across the region as well as private practice roles.

BCA director Alison Kitchen has praised Mr Culbert’s appointment. Picture: NCA NewsWire / Gary Ramage

Mr Culbert said he was honoured to become the BCA’s next president and said the “challenges that lie ahead, like climate change, the energy transition, cost of living and our competitiveness in a complex global environment are not the government’s responsibility to solve on its own”.

“I look forward to working with government at all levels – local, state and federal – to tackle these challenges,” he said.

CBA chief executive and BCA board member Matt Comyn said Mr Culbert would work with business groups and political leaders to advocate for “the right policy settings that are in the national ­interest”.

Fellow BCA director and former KPMG Australia chair Alison Kitchen said Mr Culbert had “demonstrated exceptional leadership at Sydney Airport and has successfully navigated complex challenges facing our nation”.

John Pearce, chief investment officer at UniSuper (Sydney Airport’s biggest shareholder when it was listed on the ASX) expected Mr Culbert to make a significant contribution to the BCA.

Mr Reed, the BCA president since 2019, said he was “proud of the work undertaken to advocate for policies that foster economic prosperity, job creation, innovation and global competitiveness”.

BCA chief executive Bran Black paid tribute to Mr Reed’s leadership, which he said coincided with some of the most difficult domestic and global challenges in recent history.