John Rider, chairman of the Institute of Directors in the West Midlands, has welcomed the announcement of the new IoD Director General.

Simon Walker, former Chief Executive Officer of the British Private Equity and Venture Capital Association, has been appointed the next Director General of the Institute of Directors, succeeding Miles Templeman whose seven-year term as Director General expires at the end of September.

Mr Rider said: "Here in the West Midlands we welcome the appointment of Simon and hope that he can find time early in his new role to visit the region and see for himself the very real challenges that the West Midlands faces.

"Any perceived recovery in the West Midlands is stagnant and stalling and we need those in London to understand this and appreciate the very real need for a rewarding tax regime for entrepreneurs backed by a more favourable bank lending climate.

"If the Government hopes that the private sector will take up the slack of public sector job cuts then we desperately need an understanding that we need more lending and more support for the SMEs from which the vast majority of new jobs will come," he said.

Mr Walker brings a wealth of business experience and political insight. As well as the previous holder of senior executive positions at Reuters, British Airways, and Brunswick Group, he is a council member of the European Policy Forum and a former member of the Better Regulation Commission.

He also served in Buckingham Palace as Communications Secretary to The Queen and at No.10 Downing Street as a Special Adviser to Prime Minister John Major.

Commenting on his appointment, which he will take up on October 3, 2011, Mr Walker said: "I am delighted to have this opportunity to lead the Institute of Directors. I relish the prospect of representing the business community at a time of great economic challenge and opportunity. Our members have a vital role to play in leading and sustaining our country's economic recovery, and I look forward to building on the good work already done by the IoD.

"As Director General, I will be campaigning for growth and the competitiveness of British business. We've taken the UK's competitiveness for granted for too long and now find ourselves with an excessively high tax burden, an overregulated labour market and creaking transport and energy infrastructures. Only the most competitive countries can thrive in today's global economy. Britain has lost its competitive edge and radical reform is the only route to sustainable growth, stability and long-term job and wealth creation.

He added: "I strongly support the Government's Spending Review and the need to reduce the deficit. But at the same time there are many potential reforms on the supply-side of the economy which would significantly improve future growth. The Institute of Directors will publish its own Growth Plan in October and from day one I will campaign to see it implemented in full."

Welcoming the appointment, the IoD Chairman, Dr Neville Bain said:

"We are delighted that Simon will be joining us. His appointment continues the policy of having the IoD led by someone with a strong track record and understanding of business and board level issues, combined with roles that have given a valuable perspective of the workings of government and the public sector. Simon has a real passion for business and is ideal to take the IoD forward over the next few years, building on the excellent platform established by Miles Templeman."

Welcoming his successor to the role, the current Director General, Miles Templeman, said: "I wish Simon every success in this role, and I'm pleased to be handing the reins to someone of his calibre to champion the interests of business. It has been a great privilege for me to serve the IoD over the last seven years.

"I'm pleased, despite the economic pressures that most of the government policies are in the right direction, though they still have to fully implement them. And I still believe that although they appreciate the business agenda, government plans and policies are developed in other areas that can directly and indirectly influence our ability to compete globally and achieve the growth we need."