THE man dubbed Britain's most generous boss today takes over the chairmanship of an influential organisation that acts as the voice of 2,000 business leaders locally.

Colin Potter has the baton of responsibility formally handed to him by Michael Foote, who steps down after three years in which he drove through many positive changes at the Hampshire and Isle of Wight branch of the Institute of Directors (IoD).

Serial entrepreneur Potter hit the headlines last year when he sold Hampshire communications company Uniworld for £10m - and immediately handed out £2m to his small band of loyal staff.

In another act of kindness, the 55-year-old promised to donate all future profits from his latest venture, a sales software company, to Fareham's Rainbow Centre, which helps children with cerebral palsy.

The leadership change takes place this evening at the branch's annual members meeting, being held at Farnborough Air Sciences Museum.

Potter's new post is the only committee post that must be approved, following tough interviews, by Pall Mall, where the IoD nationally is based.

Foote, who heads Fareham based aero-engine manufacturer Microturbo and sister company Turbomeca, said: "I would like to see Colin get as much enjoyment out of being chairman of the branch as I have.

"He already has lots of exciting ideas and will naturally have a different approach but change is always required to help regenerate and move things forward again."

Reflecting on the past three years, Foote said: "The progress made in the branch is really down to the team's effort, not a one-man show.

"I have had the privilege of leading the branch's dynamic committee of business professionals whose energy and commitment has been fundamental in achieving success."

Other successes under Foote's tenure include:

establishing a permanent home for the branch at Hampshire's Rose Bowl county cricket ground and ensuring a stronger policy platform.

appointing a full-time administrative assistant, Pauline Warren, and launching an entrepreneurs club.

securing two major local sponsors - BDO Stoy Hayward and Clydesdale Bank - which enabled the 24-year-old branch to extend services and networking events.

Foote is a member of the IoD council in London and will continue to sit on the nomination board that recently appointed the new director general, Miles Templemen.

For more, click on to www.iod.com/hampshire