The RSE is Scotland’s national academy with a fellowship of 1,800 drawn from the sciences, arts, business, professions and the third and public sectors. Founded in 1783, the RSE plays a part in advising policymakers, inspiring innovators and helping tackle the most pressing issues of the day.

Mr Macdonald, who has been chair of IoD since March 2021, said: “It is an honour to be receiving this Fellowship from the RSE. I look forward to actively contributing to the RSE’s important and influential work across Scotland and the UK.

“I’m in great company, and I’d like to pass on my congratulations to the 56 other new fellows given this excellent news today. There will be many opportunities to collaborate with the rest of the fellowship in making a positive impact to business, the economy and society.”

David Sole, managing partner and co-founder of the School for CEOs, added: “This is a great honour for Patrick and I’m sure that he will make a great contribution to the RSE over time, as he has done to the School for CEOs since co-founding it with me back in 2011.”

Catherine McWilliam, nation director at IoD Scotland, said: “This is wonderful news, and we would like to extend our congratulations to Patrick from the IoD Scotland team.

“His extensive industry knowledge and leadership skills have been an integral part of IoD’s continuous growth and success in Scotland during his three years as chair and many years before that as a member.

“Patrick’s hard work and passion for the world of business is reflected in his longstanding commitments to his roles as chair and as an IoD Scotland member. We look forward to seeing the positive effect Patrick and the rest of the new Fellows will have on society in Scotland and nationwide.”

Jonathan Geldart, Director General at IoD, said: “This a great honour for Patrick and the IoD which recognises his expertise and leadership qualities. The RSE is a hugely admired institution and I’m certain he’ll add great value through his engagement.”

Other RSE Fellows announced today include BAFTA and Emmy-winning satirist Armando Iannucci and award-winning journalist and charity founder Sally Magnusson.