CMA board meeting minutes: June 2025
Published 25 July 2025
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Meeting date: 24 June 2025
Venue: The Cabot, London, and online
Members present
- Doug Gurr (Chair)
- Joel Bamford
- Justin Basini
- Sarah Cardell (CEO)
- Cynthia Dubin [footnote 1]
- Juliette Enser
- Will Hayter [footnote 2]
- Dame Patricia Hodgson
- Daniel Lambauer
- Cyrus Mehta
Advisers present
- Karen Croxson, Chief Data & Technology Insights Officer
- Jessica Lennard, Chief Strategy and External Affairs Officer [footnote 3]
- Chris Prevett, General Counsel
Apologies
- Martin Coleman
- Murdoch MacLennan
- Dharmash Mistry
- Mike Walker
CMA staff present
- Kate Bridge, Director of the Executive Office
- Chief of Staff
- Committee Secretary, Minutes
Teams
The meeting was attended by teams from across the CMA including from Strategy, Communications and Advocacy.
1. Introduction
The Chair welcomed members to the meeting.
The Board noted that the minutes from the Board 21 May 2025 will be circulated offline for clearance.
2. Chair’s reflections
The Chair reflected on the upcoming meeting.
Strategy, risk and portfolio
3. CEO update
The Board was updated on and discussed recent developments in the CMA’s portfolio and risk profile. It also reviewed the external guidance tracker and the monthly finance update.
4. Digital Markets Board Committee Update
The ED, DMU updated the Board on recent DMBC and its sub-committee meetings.
5. Remuneration Committee Update
The COO updated the Board on the RemCo meeting of 10 June 2025.
6. Audit and Risk Assurance Committee Update
The Chair of ARAC updated the Board on the items discussed at its meeting on 23 June 2025, and provided ARAC’s recommendation that the Board approves the Annual Accounts subject to minor drafting changes and the NAO’s Audit Completion Report.
7. Annual Report and Accounts 2024 to 2025
The Board formally approved the CMA’s Annual Report and Accounts 2024 to 2025 and delegated the sign off the final version and any non-substantive amendments to the Chair, CEO, Chief Operating Officer (and Additional Accounting Officer) in consultation with the ARAC Chair, where appropriate.
AOB
Impact Assessment 2024 to 2025
The Board formally approved the CMA Annual Impact Assessment 2024 to 2025, noting that this will be published alongside the Annual Report and Accounts.
SAU and the 4Ps
The Board noted this paper.
4Ps – updates to the mergers process
The Board noted this paper.
The Chair thanked the Board for the meeting.