The name Sarah Cardell has become synonymous with leadership, fairness, and reform in the world of UK market regulation. Her journey began with a strong academic foundation that prepared her for a lifetime of service in law and governance. Born in 1973, Sarah attended James Allen’s Girls’ School in London and later studied Philosophy, Politics, and Economics (PPE) at Exeter College, University of Oxford. Her academic journey not only developed her analytical mind but also built her ability to interpret complex systems — a skill that later became essential in her legal and regulatory career.
Legal Career Beginnings
After completing her studies at Oxford, Sarah began her career in law at one of the UK’s most prestigious firms, Slaughter and May. There, she quickly made her mark as a talented and meticulous lawyer, specialising in competition law. She advised on a range of cases involving UK and EU competition regulations, mergers, and antitrust issues. Her exceptional clarity, attention to detail, and ability to navigate the intricate world of corporate law soon earned her a partnership at the firm.
Her time in private practice gave her valuable insight into how large corporations operate, and more importantly, how legal frameworks can shape economic fairness. These lessons would later inform her philosophy as a regulator — to create markets that work effectively for businesses while safeguarding the interests of consumers.
Transition to Public Service
Driven by a desire to make a broader social impact, Sarah moved from private practice into the public sector. She joined Ofgem, the UK’s energy regulator, as the Legal Partner for the Markets Division. This role was critical in shaping her understanding of how market regulations affect national industries and households alike. At Ofgem, she worked on ensuring fair competition in the energy market and helped address issues such as consumer pricing, transparency, and regulatory compliance.
Her time at Ofgem marked a shift from advising corporations to defending public interest. It was here that she developed her enduring belief that a fair and competitive market is the backbone of both a strong economy and a just society.
Joining the Competition and Markets Authority (CMA)
In 2013, Sarah joined the Competition and Markets Authority (CMA) as General Counsel. The CMA had just been established as the UK’s primary competition regulator, and Sarah played a central role in shaping its early policies, legal strategy, and international relationships. She led the legal services division and also oversaw policy and international work, helping to define how the CMA approached major investigations.
Her expertise, leadership, and calm decisiveness made her a respected figure within the organisation. Over the years, Sarah became one of the CMA’s most trusted voices — a steady hand in a complex and ever-changing regulatory landscape.
Becoming Chief Executive
In 2022, Sarah Cardell was appointed Chief Executive of the CMA, initially on an interim basis, and later confirmed permanently in December of the same year. Her appointment came at a pivotal moment for the UK economy. The country was navigating post-Brexit economic shifts, digital transformation, and increasing scrutiny of global technology companies.
As CEO, Sarah brought both experience and vision. Her leadership style is rooted in clarity, fairness, and efficiency. She emphasised that the CMA must act swiftly and decisively, without compromising the quality of its investigations. Her goal has been to make the CMA more agile, transparent, and responsive — a regulator that supports innovation and growth while protecting consumers from unfair practices.
The Four Principles of Her Leadership
Sarah Cardell often summarises her philosophy in four guiding principles — Pace, Proportionality, Predictability, and Process.
Pace: She believes the CMA must move faster in its decision-making. Delays can cost businesses time and resources, and slow justice can harm both competition and consumers.
Proportionality: Every investigation and intervention should be balanced. Regulators should never act beyond necessity, and enforcement should always match the scale of the problem.
Predictability: Businesses thrive when they can anticipate how regulations work. Sarah has pushed for greater transparency so that companies understand the CMA’s methods and expectations.
Process: Even as the CMA becomes quicker, it must never sacrifice accuracy or fairness. Rigorous analysis remains at the heart of its decisions.
These principles reflect her deep understanding of both business realities and public responsibilities. Her balanced approach aims to protect competition without discouraging innovation or investment.
Focus on Digital Markets and Big Tech
One of Sarah Cardell’s most notable priorities as CEO has been addressing the growing power of global technology companies. Under her leadership, the CMA has taken an active interest in digital markets, particularly in cases involving artificial intelligence, data, and platform dominance. She has warned about “winner-takes-most” dynamics, where a few companies control entire ecosystems, making it harder for new entrants to compete.
Cardell believes that fair competition in the digital economy is vital for innovation and consumer choice. Her CMA has conducted detailed studies into digital advertising, app stores, and AI foundation models — exploring how these emerging technologies can be regulated without stifling progress. Her approach is both firm and forward-thinking: to prevent monopolies while fostering innovation.
Protecting Consumers and Encouraging Fair Growth
Beyond technology, Sarah Cardell’s CMA has tackled issues that affect everyday consumers. Investigations into baby milk pricing, fuel markets, grocery supply chains, and housing competition have shown her commitment to fairness in all sectors. She has consistently reinforced that competition law is not just about companies — it’s about people.
At the same time, she understands that the UK needs a pro-growth regulatory environment. She has made it clear that effective competition policy supports economic growth rather than hindering it. By ensuring that all businesses — from start-ups to global corporations — compete on equal terms, the CMA helps create an economy that is both dynamic and fair.
Key Achievements and Cases
During Sarah’s leadership, the CMA has taken significant steps to redefine its role in a fast-evolving economy. Some of her key achievements include:
Launching comprehensive reviews into AI foundation models, setting the stage for responsible innovation and transparency in artificial intelligence.
Ensuring that large mergers, such as those involving major tech firms, are examined thoroughly for their long-term impact on competition and consumers.
Accelerating decision-making timelines to make the CMA more responsive and efficient.
Promoting collaboration between international regulators to align global standards in competition policy.
Through these efforts, Sarah Cardell has positioned the CMA as one of the most respected and forward-looking regulators in the world.
Challenges and Criticisms
Leading a national regulator is never without challenges. Sarah Cardell has had to navigate political pressures, international disputes, and the delicate balance between regulation and growth. Some critics argue that the CMA’s scrutiny of global mergers could deter investment, while others say it does not go far enough in tackling digital monopolies.
Sarah has addressed these concerns directly, emphasising that fairness, not fear, should guide decision-making. She believes that predictable and transparent regulation is what ultimately attracts businesses to the UK — because they know they are operating on a level playing field.
Leadership Style and Personality
Sarah Cardell is admired for her calm, thoughtful, and strategic approach. Colleagues describe her as deeply analytical yet approachable. She listens carefully, asks sharp questions, and focuses on evidence rather than politics. Her background in both private and public sectors gives her a unique perspective — she understands how business works, but she also recognises the duty of public institutions to act in the common interest.
Outside of her professional life, Sarah is known to enjoy activities such as flying and cycling, reflecting her sense of adventure and balance. These pursuits mirror her professional ethos — disciplined, focused, but always open to challenge and new perspectives.
The Future Under Sarah Cardell’s Leadership
Looking ahead, Sarah’s leadership will likely continue shaping the CMA into a more agile and impactful institution. The future of her tenure will revolve around:
Artificial Intelligence Regulation: Ensuring AI models and algorithms are developed responsibly and competitively.
Global Collaboration: Building stronger ties with international regulators to ensure consistency across borders.
Consumer Empowerment: Giving consumers more clarity and choice in fast-changing digital and retail markets.
Cultural Transformation: Strengthening the CMA’s internal structure to improve performance, inclusion, and innovation.
Her vision is to create a regulator that businesses respect and the public trusts — one that encourages innovation while standing firm against exploitation or unfair advantage.
Why Sarah Cardell Matters
In today’s world, where technology and globalisation are redefining markets, Sarah Cardell’s leadership stands as a beacon of balance. She represents a new kind of regulator — intelligent, pragmatic, and transparent. Her role is not only to enforce rules but to shape the kind of market economy Britain wants to sustain: competitive, fair, and forward-looking.
Through her decisions, policies, and vision, Sarah Cardell has shown that regulation can be a tool for progress rather than restriction. Her leadership is a model of integrity and thoughtful governance at a time when markets are more complex than ever.
Conclusion
Sarah Cardell is more than just the Chief Executive of the Competition and Markets Authority — she is one of the most influential figures in modern British economic governance. Her career reflects a lifelong commitment to fairness, accountability, and intelligent regulation. From her early days as a lawyer to her leadership at the CMA, she has combined analytical precision with a deep sense of public responsibility.
As the world grapples with the challenges of artificial intelligence, digital transformation, and corporate concentration, Sarah Cardell’s measured, human-centred approach offers a guiding example of how effective leadership can ensure that competition remains at the heart of economic progress.
